The invention provides a mixed modified milk which is prepared from the following raw materials: raw goat milk, oat flour, a spina date seed extract, a coix seed extract, a pumpkin/Chinese yam juice, a guava leaf extract, xylooligosaccharide, xylitol, microcrystalline cellulose, a stabilizer, stevioside, edible essences and softened water. The invention also provides a preparation method of the mixed modified milk. The method comprises the following steps: preparing the pumpkin/Chinese yam juice, preparing the guava leaf extract, treating the oat flour, preparing the emulsifying stable sweetening agent solution, and mixing. In the modified milk, the protein content is 2.5-3.0g/100g, the fat content is 2.5-2.8g/100g, the energy is less than or equal to kJ/100g, and the calcium content is greater than or equal to mg/100g. The modified milk has the advantages of delicate mouthfeel, moderate smoothness and moderate sweetness. The modified milk has comfortable odor and proper thickness, and has favorable texture.