Disclosed are a composition for preparing set-type fermented milk, set-type fermented milk, and a method of preparing set-type fermented milk. The disclosed composition for preparing set-type fermented milk may include liquid milk, a powder material, and optionally, fermentation fungi, and the powder material may include cellulose ether, and optionally, starch. The disclosed set-type fermented milk includes cellulose ether, thereby preventing quality deterioration, such as serum separation and syneresis, and having remarkable phase stability.