The invention belongs to the technical field of dairy product deep processing, and relates to modulated milk for making milk tea, a preparation method and application of the milk tea. The preparation method of modified milk, the main steps are: mix 60-80% concentrated milk or reconstituted concentrated milk, 2-5% cream, preheat to 50-70°C, add emulsifier, stabilizer and buffer salt to dissolve , and make up 100% of the amount with water, and after stirring evenly, a mixture with a fat content of 5.0-8.0% and a protein content of 3.0-5.0% is obtained, and then homogenized at 12-20MPa; 132-142°C, 3-5sUHT sterilization; Aseptic filling to obtain prepared milk. Concentrated milk is obtained by concentrating raw milk and skim milk to 1.5-2 times; it is better to use RO membrane to concentrate. It is simple and convenient to make milk tea by directly mixing it with tea water. The prepared milk tea has rich taste, strong milk fragrance, good stability and no stratification and flocculation phenomenon.