With whole milk powder and coconut as raw materials,the manufacture process conditions of coconut milk beverage were discussed. Product formula and compositional formulation of emulsion stabilizer were studied by orthogonal experiments. The results showed that the optimal formula of coconut milk beverage was as follows: whole milk powder was 5.0%;coconut milk was 2.0%;white sugar was 5.0%;coconut flavor was 0.1%. The best stabilizer compositional formulation was as follows: sodium caseinate was 0.1%;gellan gum was 0.03%;sucrose fatty acid ester was 0.02%;and single,double glycerin fatty acid ester was 0.08%.