Flavored milk’s main characteristic is that it is a fluid product, with the addition of a few ingredients and a simple technological process. It is a product with great market acceptance, especially for children and has great potential in incorporating new ingredients and functional components, aiming to reach new audiences. This chapter presents the main technological approaches in flavored milk and discusses innovations and perspectives. Several technological modifications are applied to flavored milk to improve the texture and sensorial characteristics of the product. Furthermore, a major appeal of these products is the reduction of added sugar through sweeteners and fruits (pulps and extracts) to meet the demand for healthy products and reduce the incidence of chronic diseases. Finally, emerging technologies have been widely used in the formulation of flavored milk, which produces products similar to conventional pasteurization, in addition to reducing energy expenditure in processing and offering a greater quantity of bioactive compounds. In any case, it is a product with great potential and has become increasingly common in the consumer’s diet.