The objective of the present study was to compare the chemical, rheological and sensory properties of regular process cheese (control) and cholesterol-reduced block-type process cheese. The cholesterol-reduced process cheese was made by accelerated ripened cholesterol-reduced Cheddar cheese and cholesterol-reduced butter treated by crosslinked β-cyclodextrin (β-CD). The composition of the block-type process cheese was similar to the control cheese. Approximately 91.0% of cholesterol removal was observed when treated by crosslinked β-CD. The production of total free amino acids was significantly higher in cholesterol-reduced process cheese in all storage periods compared with those in the control. In sensory analysis, a significantly higher score of acidic, salty and bitterness, and lower score of elasticity were found. However, no difference was found in free fatty acids, rheological properties, and TBA test between the control and cholesterol-reduced process cheese. Therefore, the present study indicated that even though some of the significant difference was observed in sensory properties in the cholesterol-reduced block-type process cheese, most of chemical and rheological properties were comparable to the control process cheese.