Plant-based fermented beverages are growing in popularity due to the rise in vegetarianism, health trends and ethical concerns. In this study, camelina (Camelina sativa L.) seed press cake (CPC, 15% and 20% w/w) was fermented using yogurt starter culture. The physicochemical properties of the samples, including pH, total acidity, color, viscosity, texture and rheological properties were investigated. Moreover, the lactic acid bacteria (LAB) viability, bioactive compounds and antioxidant activity were determined. During fermentation and 28-day refrigerated storage, the samples achieved a mean viable bacterial count of at least 1010 CFU/g, which is higher than the recommended bacteria level for traditional dairy yogurt (106 CFU/g). A significant acidification, consumption of reducing sugars, increase in free amino acids and polyphenolics was observed. In addition, CPC-based fermented samples showed good antioxidant potential. Textural and rheological characteristics were similar to dairy yogurt. Moreover, fermentation improved the sensory attributes of CPC, meeting consumers’ acceptance criteria. Thus, the study indicated that fermentation had a marked effect on the physicochemical, microbiological and functional properties of CPC. Therefore, the fermented CPC-based beverage has the potential to be a valid, value-added and novel alternative to dairy-based yogurt.