Two footballers apologised after being photographed apparently urinating into a glass at last year's festival, where women were seen baring their breasts.
Chief executive Ian Renton said: "It's to ensure that drinking is not the rationale for people coming racing."
The measure is also to be imposed at the Jockey Club's other racecourses.
It comes in first at Cheltenham, where the festival takes place next month, but will be in place at Epsom, which stages the Derby, and Aintree, where the Grand National is held.
"It's an improvement on things we are already doing," Mr Renton said.
"Aintree has already got the ball rolling, with their Ladies' Day, they've already taken steps to improve the way that is perceived.
"We want them to come to racing and enjoy the sport and not have those people coming who will be a nuisance to other racegoers," added Mr Renton.
As well as the four-drink limit, corporate complimentary bars will close earlier and water points will be made available in every public bar.
Cheltenham Festival racegoers will be restricted to buying four alcoholic drinks at a time in a bid to crack down on anti-social antics.