The ad features a woman dancing to a drumbeat before pointing to her inner elbow and running her finger down her forearm.
The woman falls to the floor while the voiceover says "I am your addiction, I am Belle D'Opium. The new fragrance by Yves Saint Laurant".
YSL said it took its social responsibility very seriously, adhering to a strict code of business ethics.
The ASA said: "We were concerned that in the context of the ad, Belle running her finger down her inner arm could be seen to simulate the injection of opiates into the body.
"We were also concerned that following that scene, [the woman] was shown moving in a series of short, rapid scenes, before the ad concluded with her body seizing upwards while lying on the floor, an action we considered could be seen to simulate the effect of drugs on the body.
The regulator ruled the ad must not appear in its current form.