The aim of this work is to analyse the physicochemical features of milk fat products (60%, 74% and 82% fat) and to learn about consumer preferences regarding these products, based on the results of consumer research. In addition, this study was conducted to answer the question of which features of milk fat products are most valued by consumers and which fat attribute has the strongest influence on consumer choice. Tests on the physicochemical characteristics of milk fat products, including analysis of composition, water activity, tocopherol and β-carotene content, colour, texture, melting profile and solid fat index, as well as consumer tests are carried out. The tested products met the requirements of Appendix II for Regulation (EU) No. 1308/2013. Based on consumer preferences, it was found that taste, followed by colour, was the most important attribute of milk fat products. The most desired fat was butter (82% fat), although it was difficult to spread at 4 °C. The best cuttability and spreadability was found in butter containing three-quarters fat (74%), but it was the least desired product by consumers. Most of the respondents (68%) preferred the yellow shade of milk fats to the white one. This indicates the need to add colours (e.g., carrot juice concentrate or other natural healthy food ingredients).