Low-fat spread (LFS) is the product harmonizing with the idea of healthy nutrition. At the same time, it has a good taste and avour, as well as very good spreadability at refrigerator temperature. The present investigation studied the effect of method of cooling on the properties of cow and buffalo milk ghee, and comparative evaluation of LFS prepared from them. Slowly pre-cooled cow ghee had intense yellow colour than rapidly precooled cow ghee, whereas slowly pre-cooled buffalo ghee has creamish white colour and rapidly pre-cooled buffalo ghee had white colour. Rapidly pre-cooled cow ghee had a very smooth and pasty texture than rapidly pre-cooled buffalo ghee. The LFS of cow ghee had shown maximum sensory scores for colour and appearance, body and texture, spreadability, and overall acceptability, as compared to buffalo ghee LFS. Chemically it was observed that both the LFS differs in FFA content, while they had similar fat, protein, carbohydrate, ash and total solids content, as well as pH. Oiling off and wheying off was found higher in cow ghee LFS over buffalo ghee LFS. Colour, appearance and avour score were found improved by the addition of butter annatto colour and diacetyl avour respectively. Color and appearance, body and texture, spreadability, as well as overall acceptability scores were higher for cow ghee LFS when subjected to 35°C for 10, 20, and 30 minutes. It was found that after 10 minutes of exposure to 35°C, the physical qualities of both LFS were unchanged, but the sensory properties diminished as time passed.