The purpose of this research was to evaluate the influence of the beverage formulation on the in vitro digestibility and bioaccessibility of phenolic compounds, vitamin C, and carotenoids, as well as antioxidant activity from milk, a blended fruit juice (BFJ) and a combination of both of them (BFJ<br>MB). The release of many phenolic substances was improved during gastric digestion of milk and BFJ<br>MB (around 5 and 75%), but not in BFJ. Vitamin C and carotenoids diminished significantly (P < 0.05) in the gastric and intestinal digesta of each beverage. Phenolic acids, flavonoids, vitamin C and hydrophilic constituents with antioxidant activity were more bioaccessible in BFJ (up to 3.4 times) than in milk and BFJ<br>MB. On the contrary, the bioaccessibility of carotenes, xanthophylls and those compounds with lipophilic antioxidant activity was improved when milk was added to BFJ (up to 1.9 times). Results suggest that the addition of milk improved the bioaccessibility of lipophilic constituents but not that of hydrophilics. Nevertheless, BFJ<br>MB combines the nutritional ingredients of milk and BFJ. As a result, BFJ<br>MB could supply a higher diversity of bioaccessible compounds in comparison to that of milk and BFJ alone, promoting health and protecting against several diseases.