The application of pulsed electric fields (PEF) is one of the new non-thermal technologies being studied to evaluate their potential as alternative or complementary processes to thermal pasteurization. “Horchata de chufa” (tiger nut milk or earth almond milk) is of high nutritional quality and therefore has great potential in the food market, limited by its very short shelf-life. The present work studies whether PEF can be used to obtain a quality horchata and increase its shelf-life while maintaining its organoleptic characteristics. In order to do so we determined pH, total fat, peroxide index, thiobarbituric acid-reactive substances index, formol index, and peroxidase activity in natural (untreated) horchata and horchata subjected to various PEF treatments and studied their stability during refrigerated storage (2–4 °C). After PEF treatment, only peroxidase activity decreased significantly ( p < 0.05). This parameter and pH varied during the shelf-life of the horchata, and a negative correlation was obtained between pH and peroxidase activity.