Protein deficiency is a common chronic malnutrition in Bangladesh, and it is linked to low socio-economic status. The study was to develop a high calorie powder based on soy milk (SM) and whey protein permeates (WPP). Soy milk was extracted soaking it at 55ºC and 60ºC for 1 h and blanching it at 80ºC for 10 min. The chemical composition of extracted SM and WPP along with developed high calorie emulsion (HCE) powder was analyzed. The result suggested that soaking at 60ºC for 1 h and blanching at 80ºC for 10 min had higher solid content. The moisture, ash, protein, fat, lactose and carbohydrate content in SM at 60ºC were 90.02 %, 1.20 %, 5.38 %, 2.15 %, 0.0 % and 1.25 % respectively, whereas WPP contained 8.18 %, 7.85 %, 16.1 %, 0.0 %, 42.92 % and 24.95 %, respectively. Four emulsions were formulated to develop HCE powder to supply 1 Kcal /ml. Nutritional analysis suggested that formula C (70 % SM and 30 % WPP) shows the highest amino acid and mineral contents except zinc. The sensory analysis showed that formula D (50 % SM and 50 % WPP) and formula C were equally acceptable. Only formula A (100 % SM) was less accepted by the panelists because of the deep brown color and off flavor of soy milk liquid. However, high calorie powder can be prepared by using SM and WPP to supply a sufficient amount of nutrition.