This study aimed to evaluate the effect of adding different ratios of oats on the properties and nutritional value of low and free-fat fermented milk drink as a functional dairy product for enhancing human health. The product was fermented using mixed starter of L. casei HQ177095 and L. paracasei HQ177096.1 (1:1) and supplemented with oats at ratios of 1 and 2%. Samples of fermented milk drinks were stored at 5±1°C for 21 days. Microbiological, chemical, physical, organoleptic properties and nutritional value were carried out during storage period. Results indicated that there were slight changes in some chemical composition during storage, while changes in lactose content, pH values and titratable acidity were significant. Also, the microbiological examination indicated that treatments significantly enhanced the viability of LAB and affected total viable counts and psychrophilic bacteria during storage. Regarding to organoleptic properties, it was noticed that fermented milk drinks which supplemented with oats had the higher total scores than controls. Moreover, fermented drinks supplemented with 2% oats showed better physical characteristics (viscosity and syneresis) than other treatments. The product can be recommended as a good source of iron, protein and can be considered as healthy foods, contain low fat and low calories.