A method for preparing a cocoa beverage through a low temperature process is described. The process promotes the incorporation of desirable flavorings and biologically beneficial flavanols and methylxanthines. The low temperature brewing process prevents the beverage from entering the water-lipid chemical spinodal during low temperature storage and consumption, which would result in an unappealing phase separated liquid. Implementations of the invention are described based on raw unfermented cacao beans, fermented cacao beans, and roasted cacao beans steeped in water or flavored water.