Aloe vera and lime (Citrus aurantifolia) nutritional contents are known as highly beneficial plants that contain various functional compounds. This study is aimed to formulate aloe vera – lime (AV-L) juice and characterizes the physicochemical of the fruit juice mixture. Five samples were prepared which were reference sample (control) from commercialized aloe vera drink, Formulation 1 (80% aloe vera + 20% lime), Formulation 2 (75% aloe vera + 25% lime), Formulation 3 (70% aloe vera + 30% lime) and Formulation 4 (65% aloe vera + 35% lime). Physicochemical properties, microbiological analysis and sensory of the formulations were determined. Formulation 3 resulted in the highest pH value at the end storage with pH 2.13. Titratable acidity analysis shows that Formulation 4 has the highest acidity with 1.82%, total soluble solids (TSS) of 13.4oBrix. Color analysis shows that Formulation 3 has high value of L* (37.54), a* (−0.73) and b* (2.93) at day 28 which gives the juice darker, greener and yellower color than the initial. Formulation 3 shows the highest antioxidant, total phenolic content and total flavonoid content of 75.32%, 1.153% mgGAE/g, and 1.044% mgQE/g respectively. Formulation 3 has the lowest microbial growth with 5.0 x 105 cfu/ml after 28 days of storage. The sensory evaluation resulted in the acceptance of Formulation 3 is the highest with an overall acceptability score of 8.6. Thus, this study has concluded that the addition of lime in aloe vera can be improvised to produce a longer shelf life fruit juice drink.