The invention discloses a middle-aged and old-aged milk powder. The milk powder is prepared from cow's milk, maltodextrin, milk source protein, plant oil, plant stanol ester, dietary fiber, phospholipid, compound mineral substances, multi-vitamins and water; the invention further discloses a method for preparing the milk powder. The method comprises the steps that 1, cow's milk is preheated, then,the milk source protein, maltodextrin, dietary fiber and cow's milk are mixed to be uniform, and a mixing solution A is obtained; 2, the plant oil is preheated, then, the plant oil, plant stand esterand phospholipid are mixed to be unfiorm, and a mixing solution B is obtained; 3, the compound mineral substances and water are mixed to be uniform, and a mixing solution C is obtained; 4, the multivitamins and water are mixed to be uniform, and a mixing solution D is otbained; 5, the mixing solution A, the mixing solution B, the mixing solution C and the mixing solution D are mixed, homogenized,sterilized, concentrated, spray-dried, sprayed with phospholipid, screened and packaged. The milk powder has the advantage of being beneficial to blood lipid health of people with dyslipidemia.