The invention aims to provide a process for producing a fermented milk capable of effectively preventing deterioration of the smooth mouth feel and milk flavor originated from the milk fat (hereinafter, the smooth mouth feel and milk flavor are put together referred to as “milk-fat characteristic”) which are lost when the milk fat content of fermented milk is intentionally reduced, without using milk fat substitutes, milk-flavor providing agents or the like but based on an ingenuity on the production process, and the fermented milk obtained as the result in which the milk-fat characteristic is improved and the milk fat content is reduced.The invention relates to a process for producing fermented milk in which a milk fat content is from 0.1% by weight to 2.0% by weight, said process comprising: reducing a dissolved oxygen concentration in a fermented milk mix to 5 ppm or less at the time of the start of fermentation and carrying out the fermentation at a fermentation temperature of from 30□ C. to 39□ C., to thereby improve milk-fat characteristic, and the like.
