Cow`s milk and dairy products are elements of the human diet that could play an important role in improving human health. The macronutrients and micronutrients found in milk could supply the nutrients required to maintain human health. Among them, milk-derived bioactive peptides have been identified as potential ingredients found in health promoting functional foods. These bioactive peptides target diet-related chronic diseases, particularly non-communicable ones such as cardiovascular disease, diabetes and obesity. Additionally probiotics such as lactic acid bacteria (LAB) are can be considered live microorganisms that confer health benefits for the host-, when administered in adequate amounts. Further, the calcium, vitamin D, and protein content of milk and dairy products could play a role in proving bone health. The effect of milk and calcium on bone mineral density could prevent against fracture, osteoporosis and rickets. Furthermore, milk and dairy products also contain which factors that, which protect against dental caries (anti-cariogenic properties). This paper reviews the various nutritional functions of milk and dairy products in improving human health.