The invention discloses a cereal meal replacement yogurt preparation method. The method includes steps of preprocessing, material mixing, homogenizing, sterilizing, fermenting, filling and after-storage aging. The step of filling includes: cooling fermented liquid to 20-25 DEG C, adding original fruit pulp and food essences, turning to keep for canning, preparing for filling, filling the liquid through a filling machine after turning, performing online adding of preprocessed chenopodium quinoa or/and oat paste during filling to obtain a cereal meal replacement yogurt product, and storing for aging. A chenopodium quinoa or/and oat paste preprocessing process includes steps of pre-soaking, well cooking, flushing, compounding and sterilizing. According to the method, after chenopodium quinoaor/and oat grains are added into yogurt, the grains are plump and chewy, and a state of 'drinking the yogurt by chewing' can be achieved; in addition, the taste can be kept in a shelf life, hardeningis avoided, and customers can enjogy the optimal taste at any time.