Hi. So I am wondering if I should OC my 8700K from 3.7GHz with 1.136Vcore (maximum auto) to 4.8GHz with 1.312Vcore (override). Temps and power draw are not a problems for me, however I wonder that constant higher Vcore will reduce my CPU's lifespan dramatically and I don't want to buy any new chip in nearly future.
On behalf of Tom's Moderator Team, welcome aboard!
Your statement suggests that you haven't yet applied your proposed overclock, and further suggests that you've been reading somewhere that those particular frequency and voltage values will work, which also suggests that you most likely don't have much experience, if any, with overclocking.
Keep in mind that no two processors are identical, and that each is unique in overclockability, voltage tolerance, thermal behavior and stability threshold. Since you haven't offered full system specifications, such as which CPU cooler you're running, although you may not presently have problems with high Core temperatures or Power consumption, the Vcore increase you've mentioned is massive at 176 millivolts. This will most certainly drive temperatures up sharply, especially since the 8700K has paste rather than solder between the top of the Die and the underside of the IHS (Integrated Heat Spreader), which means it's difficult to cool adequately without delidding.
Concerning Vcore, 1.5 volts, as
TerryLaze offered, is far too high for any Generations of processors to guarantee longevity, except for the original 65 nanometer Core 2 microarchitecture of 2006. However, he's quite correct in suggesting that you should not exceed 1.4 volts.
Here's the Maximum Recommended Vcore per Microarchitecture from 10 to 65 nanometers since 2006:
Figure 8-1
Click on the link in my signature and read
Section 8 - Overclocking and Voltage.
Once again, welcome aboard!
CT