This paper proposes the class of generalized least-square-error (GLSE) precoders for multiuser massive multiple-input multiple-output (MIMO) systems. For a generic transmit constellation, the GLSE precoders minimize the interference at user terminals assuring that some given constraints on the transmit signals are satisfied. The general form of these precoders enables us to impose multiple restrictions at the transmit signal, such as limited peak power and restricted number of active transmit antennas. The performance of these precoders is analyzed in the large-system limit. It is shown that the output symbols are identically distributed, and their statistics are described with an equivalent scalar GLSE precoder. To demonstrate the applications of the proposed framework, we employ the GLSE precoding to form transmit signals over a discrete alphabet and to select an effective subset of transmit antennas. Our investigations show that a computationally efficient GLSE precoder requires 41% less active transmit antennas than the conventional selection protocols in order to achieve a given level of input–output distortion.