The invention discloses a spread flavored fermented milk, which comprises the following raw materials by percentage: 60-70% of raw milk, 0.005% of a fermentation strain, 8-10% of white granulated sugar, 2-4% of skim milk powder, 3-5% of milk protein concentrate, 0.1-0.3% of cooked cheese powder, 8-25% of watery cream, 0.2-0.7% of condensed milk, 0.1-0.5% of agar, 0.2-1.0% of starch, and the balance purified water. The preparation method of the fermented milk comprises the steps of: 1) material compounding: heating the raw milk, adding the raw materials into the heated raw milk, performing stirring for full dissolution, mixing the substances evenly, and adding purified water to a constant volume; 2) carrying out homogenization and sterilization on the prepared material liquid; and 3) cooling the prepared fermentation base material, then inoculating a fermentation strain, starting fermentation, then performing demulsification at the end of fermentation, and then performing filling, thus obtaining a required product. The spread flavored fermented milk provided by the invention is thick, non-crisp, not hard, and free of wire drawing, has delicate and lubricating, natural and soft taste, stable structural state, and has better spread ductility. Also, the preparation method is simple, and is convenient in operation, thus facilitating popularization and application.