The invention provides, in one aspect, a method of producing a ready-to-drink cocoa beverage containing high levels of beneficial cocoa polyphenols in a milk or soymilk base. The method incorporates an ultra high temperature treatment followed by a homogenization step. Cocoa powder levels can be selected from about 3.5% to about 10% by weight, while the mouthfeel, solution stability over time, and taste remain acceptable.