Methods of making a low-carbohydrate dairy beverage are provided. The method includes the steps of adding specific ingredients in order to obtain a low-carbohydrate dairy beverage having certain nutritional and overall quality characteristics, including one or more of at least the following characteristics: high protein; high calcium; low calories; satisfying flavor, taste, aroma, and/or appearance; and/or extended shelf life. Low-carbohydrate dairy beverages made by such methods are also provided.