The invention provides a fermented milk, such as soft yogurt, that has appropriate viscosity and body and is free from roughness in palatability and in appearance, and provide a process for producing the same. There is provided a process for producing a fermented milk of 10 to 20 [mu]m average particle diameter and = 8000 mPa s viscosity, and provided a process for producing a fermented milk of 10 to 20 [mu]m average particle diameter and = 8000 mPa s viscosity wherein no stabilizer is added or a minute amount of stabilizer is added. There are provided, produced by these processes, a fermented milk of 10 to 20 [mu]m average particle diameter and = 8000 mPa s viscosity and a fermented milk of 10 to 20 [mu]m average particle diameter and = 8000 mPa s viscosity wherein no stabilizer is added or a minute amount of stabilizer is added.
