This study directly produces red rice as a functional ingredient for the improvement of blood cholesterol and examines its qualities, including monacolin K and cholesterol reduction effect. Also, the study produces tofu shakes using the produced red rice and alternative sweetener to examine the best manufacturing conditions and qualities of each shake for the quality improvement and commercialization prospect of the shake products. The cholesterol reduction effects of the three types of red rice, black rice and white rice on the market were examined through the animal test. The effect was strongest in red rice-A with blood cholesterol of 196.38 ㎎/㎗ which was 11.54% lower than 222.00 ㎎/㎗ of the control group fed with conventional feed. Thereafter, Monascus was separated and identified as Monascus purpureus KCCM 60570. Monascus purpureus KCCM 60570 was injected to steamed rice by 1.0% (w/w) and cultured at 30℃ for 12 days to establish the production conditions for red rice. As a result of checking monacolin K and fungi quantity, the appropriate temperature and time for red rice production was 30℃ and 10 days, respectively. The monacolin K of the manufactured red rice was 3.75, which is 7 times higher than 0.51~0.59 of the red rice on the market. The sensory test on the red rice tofu shake manufactured by adding the red rice made of Monascus purpureus KCCM 60570 in different concentrations showed the highest taste, flavor, and overall preference of the tofu shake containing 0.5% red rice, thus confirming the best addition ratio. The sensory test on the tofu shake containing 0.5% red rice and the black sesame tofu shake showed the better taste and structure of the former, confirming the positive commercial prospect of the tofu shake containing red rice. The sensory test on the tofu shake using alternative sweetener, manufactured with stevioside and fructooligosaccharide in different concentrations, instead of sugar syrup that may cause obesity and dental caries, showed the highest taste, color, and overall preference of the tofu shake containing 0.11% stevioside and 3.69% fructooligosaccharide, thus confirming the best addition ratio of alternative sweetener. The free sugar analysis detected 2.92% of sucrose in the black sesame tofu shake, and 0.63% (78% lower) in the tofu shake containing alternative sweetener, demonstrating the reduction effect on sugar that causes obesity and dental caries and confirming the quality improvement and commercial prospect of the tofu shake using alternative sweetener. The antibacterial test on the red rice and black sesame tofu shake and red rice tofu shake made of Monascus purpureus KCCM 60570 showed the antibacterial effects of three types of gram positive strain and two types of gram negative strains in red rice. Particularly, the antibacterial effect was highest in Samonella typhimurium KCTC 1925, a gram negative strain, with 26.15 mm clear zone in size. The antibacterial test showed the highest scores of red rice in the total flavonoid content, polyphenol compound content, and DPPH free-radical scavenging capacity. The red rice tofu shake was slightly higher than the black sesame seed tofu shake. The change in blood sugar was observed through the animal test, in which the tofu shake containing red rice was made into tablet. The mice fed with conventional feed had their blood sugar reduced by 1.6%, whereas the mice who had the tablet of the tofu shake containing red rice had their blood sugar reduced by 5.6%, confirming the positive effect of red rice on reducing blood sugar. To set the shelf life of the tofu shake, the storage test was conducted for 7 weeks at 5℃. As a result, the shelf lives of the black sesame seed tofu shake, red rice tofu shake and alternative sweetener tofu shake were 18 weeks, 5 weeks, and 5.3 weeks, respectively, based on their acid value. The sensory test predicted their shelf lives as 10.3 weeks, 7.4 weeks, and 7.1 weeks, respectively.