The present study was conducted with the objective of utilizing new varieties of guava (BAARI Payera-4) fruit in the production of carbonated drinks and also evaluation of different properties such as physico-chemical and sensory characteristics with respect to the different guava juice concentrations (10%, 15%, and 20% of juice) and TSS (10°, 12° and 15° Brix), respectively. This variety is selected for the preparation of carbonated fruit drinks because of its refreshing acidic taste, seedless with good keeping quality and also delicious fruit with good aroma. The extracted fruit juice subjected to carbonation. The physicochemical factors such as viscosity, TSS, acidity, pH, color, ascorbic acid, volume of CO2 and sugars were studied and the changes were observed. The sensory evaluation study was done with hedonic scale to find the best combination of juice concentration and TSS. The obtained results of physiochemical parameters showed that guava juice level at 20% with 12°Bx (Sample T6) had received highest ascorbic acid 28.87 mg/100g, high acidity 0.51%, high color value ΔE 4.60 and highest volume of CO2. Data also revealed that sample T6 found to be superior among all with respect to sensory qualities such as color, flavor, appearance, taste and overall acceptability. In conclusion, the overall assessment pointed that the resulting carbonated drinks developed from BARI Payera-4, sample T6 was best for all physicochemical characteristics and, in general, resulted in good sensory behavior, indicating that it could be a promising alternative to synthetic soft drinks.