In this study, kiwifruit-bitter gourdjuice was added to reconstituted milk at 5%, 10% and 15% (v/v) to prepare fermented milk (KBFM5, KBFM10and KBFM15). Fermented milk without kiwifruit-bitter gourd juice was used as control fermented milk (CFM). Compared with CFM, the viable counts of Streptococcus thermophiles (St)in KBFM5, KBFM10and KBFM15were increased by 4.5%, 6.5% and 5.9%, Lactobacillus bulgaricus (Lb)were increased by 2.9%, 7.1% and 4.3%, and Bifidobacterium adolescentis (Ba)were increased by 9.0%, 11.5% and 10.7%, respectively. The value of initial titratable acidity (TA) of CFM was 82.4°T, the TA values of KBFM5, KBFM10and KBFM15were increased by 3.5%, 6.4% and 5.7%, respectively. Compared with CFM (water-holding capacity (WHC) was 79.69%; syneresis value was 324.3 g/kg), WHC of KBFM5, KBFM10and KBFM15were increased by 2.2%, 14.8% and 7.1%, and the syneresis values were reduced by 9.7%, 11.3% and 10.7%, respectively. The firmness value of CFM, KBFM5, KBFM10and KBFM15was 22.71, 26.84, 27.90, 23.56 g, the cohesiveness value was 126.92, 139.82, 153.56, 132.82 g/s, the consistency value was 13.38, 16.36, 18.38, 14.58 g, and the index of viscosity was 4.93, 7.56, 9.29, 6.16 g/s, respectively. KBFM10has highest sensory scores (37.96-maximum 40) which was selected for investigation of volatile compounds and hypoglycemia activity. Thirty-six kinds of volatile compounds were identified in KBFM10and thirty kinds in CFM, which were mainly aldehydes, alcohols, acids, ketones, and esters. During 28 day refrigerated storage, the values of α-glucosidase inhibition of CFM was 21.6%, 30.27%, 26.61%, 24.59%, 22.82%. The values α-glucosidase inhibition of KBFM10was respectively increased by 28.61%, 34.13%, 38.67%, 36.07%, 37.77%. This study demonstrated that kiwifruit-bitter gourd juice can be added as an active ingredient in milk preparations to provide novel functional dairy products.