Fifty-four strains of lactic acid bacteria obtained from fermented dairy milks were investigated for possible use as probiotics and for colon cancer biological products. Five of these strains inhibited growth of eight food-borne pathogens including Helicobacter pylori, Escherichia coli, and Salmonella typhimurium. Three of these strains survived at pH 2.5 and in 0.3% bile salts. Additionally they produced no haemolysis, were resistant to kanamycin and adhered to Caco-2 cells. 16S rRNA gene sequences of probiotic strains indicated that RM11 and RM28 were Enterococcus faecium and Lactobacillus fermentum, respectively. Both the cultured medium and live whole cells from probiotic strains were tested for antiproliferation of colon cancer cells through MTT and Trypan Blue exclusion assays. The probiotic strains of E. faecium RM11 and L. fermentum RM28 also triggered antiproliferation of colon cancer cells at the rates of 21-29%, and 22-29%, respectively. This suggested that both strains could be used as potential probiotics in functional food or for colon cancer biological products.