Accelerometer calibration for physical activity (PA) intensity is commonly performed using Metabolic Equivalent of Task (MET) as criterion. However, MET is not an age-equivalent measure of PA intensity, which limits the use of MET-calibrated accelerometers for age-related PA investigations. We investigated calibration using VO_2net (VO_2gross - VO_2stand; mL⋅min^-1⋅kg^-1) as criterion compared to MET (VO_2gross/VO_2rest) and the effect on assessment of free-living PA in children, adolescents and adults. Oxygen consumption and hip/thigh accelerometer data were collected during rest, stand and treadmill walk and run. Equivalent speed (Speed_eq) was used as indicator of the absolute speed (Speed_abs) performed with the same effort in individuals of different body size/age. The results showed that VO_2net was higher in younger age-groups for Speed_abs, but was similar in the three age-groups for Speed_eq. MET was lower in younger age-groups for both Speed_abs and Speed_eq. The same VO_2net-values respective MET-values were applied to all age-groups to develop accelerometer PA intensity cut-points. Free-living moderate-and-vigorous PA was 216, 115, 74 and 71 min/d in children, adolescents, younger and older adults with VO_2net-calibration, but 140, 83, 74 and 41 min/d with MET-calibration, respectively. In conclusion, VO_2net calibration of accelerometers may provide age-equivalent measures of PA intensity/effort for more accurate age-related investigations of PA in epidemiological research.