The effect of thermal and pulsed electric field (PEF) processing on the shelf life of an orange juice-milk beverage (OJMB) was studied. The intensities of the treatments were selected to produce similar inactivation of pectin methyl esterase (PME), an enzyme responsible for the jellification and loss of fresh juice cloudiness. Physical properties (pH, °Brix, and color), microbial population, PME activity, and volatile compounds of the product were analyzed during a 4-wk storage at 8 to 10 °C. The pH was not affected by any treatment but decreased during the storage in the untreated sample. The °Brix values were decreased by the 2 treatments. The thermal and PEF treatments initially inactivated PME activity by 90%. During storage, the PME activity remained constant in the 2 treated samples and decreased slightly in the untreated sample. The reductions in bacterial as well as yeast and mold counts were similar after the 2 treatments (4.5 and 4.1 log CFU/mL for thermal against 4.5 and 5 log CFU/mL for PEF). Based on the initial bacterial counts of the control, it was estimated that the shelf lives of the OJMB treated with thermal and PEF processing stored at 8 to 10 °C were 2 and 2.5 wk, respectively. Differences were observed in the color parameters of the OJMB between the 2 treatments in comparison with the control, with a higher difference observed in the thermally processed samples. The relative concentration of volatile compounds was higher in OJMB processed by PEF treatment than that in the thermally processed sample. During storage, the loss of volatile compounds was lower in the PEF sample while thermal and control samples had a similar rate of loss. For an OJMB, treatment with PEF achieved the same degree of microbial and enzyme inactivation as the thermal treatment, but better preserved color and volatile compounds.