Prepared natural cream flavor by mixed enzyme with two kinds of lipase. Through the determination of acid value and sensory evaluation, the palatase 20000L and lipase MER were selected for enzymolysis reaction. The optimum conditions for enzymatic hydrolysis of butter were palatase 20000L 0.18%, lipase MER 0.09%, hydrolysis time 9 h, temperature 40 ℃ and pH 7.0. By GC-MS analysis, the main flavor components consist of 11 kinds of substances include short chain fatty acids, small amount of ketones, lactones and esters. Through baking applications and sensory evaluation, finished bakery products had a thick milk and long lasting flavor, without any bad smell.