A nutritional supplement was developed aiming at correcting the most common nutrient and caloric deficiencies encountered in elderly people (${geq}60$ years old). The protein source was a mixture of whey protein isolates (WPI) and bovine collagen hydrolysate (BCH) with high nutritional and functional qualities making up 12% of the formulation. The carbohydrate fraction was composed of sucrose, inulin (soluble fiber), and fructo-oligosaccharide (prebiotic). The most commonly deficient essential minerals and vitamins were also included. Acceptance of the product was good according to both an elderly panel and a laboratory panel composing of both sexes and various ages. The stability of the formulations was evaluated and the estimated shelf life at room temperature (ca. $27^{circ}C$) was approximately 4 months.