The flamboyant singer - who previously battled addictions with alcohol and cocaine, and suffered a drug overdose in 1975 - admits he has made many mistakes but believes all his previous actions have contributed to the life he has today.
Elton - who has been sober for over 20 years - said: "I`ve had a great career, but f***ed up my private life doing drugs. I`m too old for regrets: everything that happened was for a reason - even the bad times. The trials and tribulations were my fault. I`ve managed to transcend the bad stuff.
"I`ve been sober for 20 years and it`s been the best time of my life. I`m a better person - forget the career. That has nothing to do with it. I`m very happy. It`s taken a lot of work, but with the love I receive from my partner David Furnish and friends, it`s the best life I could possibly have imagined."
The `Rocket Man` hitmaker has used his own experiences to help other struggling stars, but insists he would not get involved with their problems unless asked.
He told Radio Times magazine: "I helped Rufus Wainwright in 2002 when crystal meth addiction had turned him temporarily blind, my guitarist Davey Johnstone, who`s now six months sober, and Eminem, two years sober. They all asked me."
The 63-year-old star`s former pal George Michael - who was recently freed from prison after serving four weeks of an eight-week sentence for driving under the influence of drugs and possession of cannabis - has repeatedly claimed Elton has tried to interfere in his life, but the `Candle in the Wind` singer insists that is not the case.
He said: "It`s a myth to say, as George Michael did, that I went knocking on his door to tell him he must get help. I haven`t got a thing against him - he`s a huge talent, I love him, and what he does in his life is none of my business - but he should get out more."