In the last decade, microbial polysaccharides have received increasing attention, and it has been demonstrated that many microbial strains can produce polysaccharides with different compositions and functionality. The isolated and characterized Lactobacillus paracasei has been studied for its ability to produce exopolysaccharides (EPS). In addition, the effect of carbon sources on EPS production was investigated. The effect of Lactobacillus paracasei on the viscosity and sensory properties of yoghurt made from whole milk and skim milk was studied. Lactobacillus paracasei had excellent biomass (4.4 g/L) with good biomass separation (0.11). Using sucrose 100 g/L as a carbon source for 3 days gave the best EPS content (0.7 g/L). Infrared spectra showed that the EPS produced by Lactobacillus paracasei was a hetero-polysaccharide. Fortification with Lactobacillus paracasei in the production of yoghurt from skim milk resulted in a relatively similar viscosity (5155.20 ± 4.53 mPa.S) to that of whole milk yoghurt (5264.30 ± 2.40 mPa.S), reflecting the improvement in the sensory characteristics of yoghurt from skim milk, especially mouthfeel. Consequently, fortification with Lactobacillus paracasei is recommended in low-fat yoghurt.