In this study, corn germ meal was defatted by supercritical CO2 fluid extraction and applied for the production of a composite dairy beverage. The optimization of dairy beverage formulations for improved stability and sensory quality was carried out using combination of single factor and orthogonal array experiments. The results showed that the optimal formulation consisted of 3% of defatted corn germ, 0.2% of citric acid, 0.25% of compound stabilizer, 2.5% of milk powder, and 10% of soft white sugar. The obtained beverage was characterized by homogenous texture, unique flavor, soft and delicate taste, a good balance of sweet and sour, and good stability.