The present paper is focused on the physicochemical and sensory parameters of low-fat white brined cheese-like product obtained from the substitution of milk fat by milk-olive oil emulsion, in comparison with full and low-fat control cheeses. Formulated milk samples were initially pasteurized at 63 °C for 30 min, cooled down to 35 °C, and subsequently 0.35 mL L-1 of microbial rennet were added. The obtained cheeses were stored at 4 °C during 24 hours and then analyzed for physicochemical and sensory properties. The replacement of milk fat in white brined cheese resulted in a lower total solids content due to the higher water-binding capacity of fat replacers used. Fat content was significantly higher for low-fat white brined cheese-like product than in low-fat control cheese. This result was attributed to fat retention capacity of the fat replacers used. Lipolysis index was the highest in the case of low-fat white brined cheese-like product due to changes in cheese microstructure after fat replacers incorporation in low-fat products. Milk-olive oil emulsion showed the lowest cheese-making yield compared to its full and low-fat counterparts. The cheese like- product sample received a significantly lower overall impression score by the panelists than full and low-fat cheeses.