A cereal-based product containing, in addition to cereal, sugar, fat and whey powder. A process for the production of a cereal-based product, comprising the steps of dry mixing flakes of cereal, sugar and whey powder, working the mixture in a continuous malaxator with blades with addition of edible oil and moisture at a temperature of from 110 DEG to 150 DEG C., cooling the mass obtained and breaking said mass into granulates.