The invention discloses a natural milk flavored essence base material prepared by hydrolyzing milk fat by using lipase and a production method thereof. The method comprises the step of adding the lipase into a milk fat system to hydrolyze to obtain a hydrolysate, and is characterized in that the milk fat system is prepared by a method comprising the steps of: adding the milk fat into water or enzymolysis buffer solution, mixing the milk fat and the water or the enzymolysis buffer solution, raising the temperature to be between 70 and 90 DEG C, keeping the temperature for 15 to 40 minutes, reducing the temperature to be between 35 and 55 DEG C, adjusting the pH value of solution to be between 4.5 and 7.5, and then performing mechanical emulsification. The invention improves a method for producing a milk flavored essence base material by taking cream as a raw material and utilizing the hydrolysis of the lipase, and obtains the milk flavored essence base material with stronger, fuller and more impressive milk flavor, more natural and softer fragrance, and more natural trend by improving reaction conditions. Compared with products prepared by the conventional process, the natural milkflavored essence base material can increase the fragrance by 100 to 200 times, and remarkably improve the inner quality of fragrance-increased products. Moreover, the natural milk flavored essence base material has the advantages of low production cost, simple process, high edible safety, and 'pollution-free' production process.