There is provided a shelf-stable dairy mousse in the form of an aerated oil-in- water emulsion, the shelf-stable dairy mousse comprising a dairy base, a fat source, an emulsifier and a hydrocolloid-based stabilizer system. The total fat content is from about 0,5 to about 15 wt % of fat, this fat comprising milk fat and cocoa fat. A process of preparing said shelf-stable dairy mousse is also provided.