The aim of this study was to evaluate fig (Ficus carica L.) leaves’ extract (FLE), olive (Olea europaea L.) leaves’ extract (OLE), and their mixture (MLE), to extend the shelf life of pasteurized milk. OLE, FLE, and their mixture MLE (1:1) were added to the pasteurized milk in different concentrations (0.2%, 0.4%, and 0.6%). Several tests were then conducted to determine the activity of these extracts. The antioxidant activity as IC50 was determined by using DPPH radical assay. FLE showed higher IC50 (30.21 µg/mL) compared to the IC50 of OLE (22.43 µg/mL). Phenolic compounds were identified by using high-performance liquid chromatography (HPLC). The highest antimicrobial activity was obtained with 0.6% concentration. Organoleptic properties indicated that the addition of these extracts did not affect the sensory properties of pasteurized milk. Pasteurized milk treated with 0.6% of FLE, OLE, and MLE has significantly decreased (p ≤ 0.05) lipase and protease activity during the storage period, at 5 °C. The results indicated that extending the shelf life of pasteurized milk from 5 to 16 days was successfully achieved through using 0.6% of FLE, OLE, and MLE. The combination of the two extracts (MLE) provides an efficient and safe method to prolong the shelf life of pasteurized milk, without altering the properties of pasteurized buffalo milk.