PURPOSE: To prepare a milk fat-containing beverage hardly causing the cream- off and coagulation of the milk fat even after stored for a long period and having good flavor and quality by stabilizing the emulsion state of the milk fat with a specific emulsifier.

CONSTITUTION: When a milk fat-containing beverage is prepared, the emulsion state of the milk fat is stabilized with an emulsifier containing xanthane gum, sucrose fatty acid ester and carrageenan and/or casein sodium. The emulsifier thus used can contain, if necessary, an arbitrary auxiliary as well as the above- mentioned component. In the emulsifying process, a homogenizing treatment of approximately 150-200kg/cm2 is preferably carried out. The emulsifier can be employed not only for the preparation of the milk fat-containing beverages but also as an emulsion stabilizer for the preparation of many beverages such as coffee, cafe au lait and cocoa using vegetable oils or fats as a substitute for milk fat.