She was the elder daughter of King Frederick I of Denmark and his second spouse Sophie of Pomerania.

Elizabeth was raised at the royal Danish court of her half brother and described as an extraordinary beauty.

In 1542 she was engaged, and on 26 August 1543 Elizabeth was married to Duke Magnus III of Mecklenburg-Schwerin (4 July 1509 – 28 January 1550).

Elizabeth made frequent visits to the Danish royal court, and also to her former sister in law queen dowager Dorothea.

She was also active in Mecklenburg-Güstrow: she reconstructed the churches in Güstrow and Doberan and protected hospitals and convents.