Whey and juice of guava (Pisdium guajava) were utilized at various combinations (85:15, 80:20, 75:25 and 70:30) for preparation of nutritious beverages and evaluated for various chemicals, microbial and sensory attributes during storage. The study revealed that the beverage prepared with 75% whey and 25% guava juice scored maximum for almost all sensorial quality attributes such as appearance, color, flavor, taste and over all acceptability. As well as the juice was high content of ascorbic acid  (18.87mg/100g). A reducing trend was observed in total sugars and ascorbic acid and increasing trend was observed in reducing sugars and acidity content during the storage of beverage at refrigeration temperature over a period of 30 days. The Total Counts (TC) was high ranging from 1120 - 2500 CFU/mL. Mould and yeast count varied between 0.0 -18 CFU/mL. This research is aimed at production of whey/guava beverage. At later stages of the project, whey will be introduced into whey guava beverage (75% whey and 25%guava juice).