The invention relates to the technical field of dairy products, and particularly discloses flavored fermented milk and a preparation method thereof. The flavored fermented milk is prepared from, by weight, 80%-90% of liquid milk, 0.002%-0.008% of fermentative strains, 8%-12% of white granulated sugar, 0.5%-1% of concentrated milk protein powder, 0.5%-0.8% of physical modified starch, 0.2% of fructo-oligosaccharide, 0.5%-1.5% of elder flower extract, 0.05%-0.1% of lemon juice and the balance purified water. All the raw materials cooperatively act to achieve the high apparent viscosity, water retention rate and jelly cracking strength, and the prepared fermented milk product is compact in microstructure and fine and smooth in mouthfeel, contains protein, calcium, vitamins and probiotics, is complete and reasonable in nutrition and has the good healthcare effect; meanwhile, the elder flower extract, the lemon juice and the flavor of the milk are completely combined, therefore, the fermented milk is refreshing and pleasant in mouthfeel, and the pursuit of consumers on the innovative flavor is met. The preparation method is easy and convenient to operate and easy to control.