The study evaluated the effects of full-stream and partial high-pressure homogenisation (HPH) on the properties of milk with 3.5% fat content. During full-stream HPH, the size of particles decreased with an increase in temperature. Fat globules were smaller in milk treated by full-stream than partial HPH at 60°C. Creaming was not observed in milk subjected to full-stream HPH. In milk treated by partial HPH, the phase separation rate during ≤48 h of storage increased in samples processed at 60°C, 40°C and 20°C. Despite high top layer volume in milk that was HPH-treated at a temperature of ≥40°C, its fat content was lower than in milk homogenised at 20°C. The total difference in colour was approximately 1.5-2.0-fold higher in full-stream homogenised milk. Partial HPH can be applied in dairy products requiring milk fat dispersion with minimal changes in the components of the colloidal and soluble phases.