The milk powder is prepared with the materials including: fresh milk or milk powder, defatted milk powder or defatted milk, lactase, desalted whey powder, whey protein powder and/or soybean protein powder, vegetable oil, phospholipid, oligose, honey, calcium lactase, CPP, wolfberry fruit, vitamins and minerals. The product may avoid lactose intolerance, has the effects of resisting fatigue, resisting senility, raising memory and improving gastrointestinal tract function, and has the advantages of no cane sugar, high calcium content and low lactose content.