With the extension of average life expectancy, diseases accompanied by cognitive and memory impairments, such as dementia, are increasing. The risk of dementia has been suggested to decrease with an increase in the intake of milk and dairy products. Therefore, the present study investigated the effects of consuming test food containing lactononadecapeptide (LNDP) on memory and attention in healthy elderly Japanese subjects aged 65 years or older over 24 weeks. A placebo-controlled, double-blind, randomized trial was conducted, and memory function was evaluated using the Rey-Osterrieth Complex Figure (ROCF) test and the total score of the Symbol Digit Modalities Test (SDMT). Based on the results of the ROCF test and SDMT, the repeated intake of the test food significantly improved memory function in elderly subjects. Therefore, the repeated intake of test food containing LNDP may improve memory and attention in elderly Japanese individuals with mild cognitive decline.