The objective of the study was to evaluate the nutrient content, sensory quality, and consumers’ acceptability of full–fat and low–fat feta cheese from buffalo’s milk packed in canola oil with or without basil. Full–fat feta cheese were prepared from whole buffalo’s milk whereas the low–fat feta cheese were from buffalo’s milk standardized to 3% fat. The study used a 2 x 2 factorial arrangement in a completely randomized design. The cheese did not differ in protein content; however, the low-fat feta cheese had less (P<0.01) fat, calories, and greater (P<0.01) moisture and salt content than full-fat feta cheese. Full-fat feta cheese in canola oil with basil had the least (interaction, P=0.037) ash content compared with the other treatments. There was no interaction between the type of milk and packaging used on appearance and firmness ratings. Full-fat feta cheese had higher ratings for cohesiveness (P<0.001), flavor (P=0.02) and general acceptability (P<0.01) than low-fat feta cheese. Full-fat feta cheese in canola with basil had lower saltiness score (interaction, P<0.02) than the other treatments. There were no differences in aroma and aftertaste among the treatments. Feta cheese in canola oil with basil was consistently preferred by consumer panelists. The yield of full-fat feta cheese was greater (P=0.01) than low-fat feta cheese. The cost of low-fat feta was higher than the full-fat cheese. In conclusion, product quality of low-fat feta cheese is lower than full-fat feta cheese but the advantage of the former is its greater nutritive value.