Milk fat is the main raw constituent of dairy cream. The source of the milk has a significant influence on its physicochemical properties and the presence of the dispersed phase in the emulsion, which, in turn, influences the quality of cream products. In this paper, Raman spectroscopy combined with dynamic light scattering, near infrared spectrum-stability analysis, and other spectroscopy techniques were used to study the physiochemical characteristics of milk fat from three different sources, namely MF-A, MF-B and MF-C, and to compare the corresponding stability of dairy cream. The Raman spectra results indicatedthat 1 303 and 1 446 cm-1 were —CH2 vibrations, 2 800～3 000 cm-1was a C—H vibration, and 1 131 cm-1 was a C—C vibration, ith a peak intensity of MF-A>MF-B>MF-C (p<0.05). These results established that MF-A had the highest degree of saturation. 1 657 cm-1 was a CC cis-stretching vibration, thus indicating that all samples contained cis-unsaturated fatty acids and had no trans-fatty acids. The peak intensity was MF-C>MF-B>MF-A (p<0.05), indicating that MF-C had the highest cis-unsaturated fatty acid content. Iodine analysis further showed that MF-A had the highest degree of saturation. Solid fat content (SFC) at different temperatures showed MF-A>MF-B>MF-C (p<0.05) in the heat range of 0～40 ℃. Therefore, dairy cream should be stored at around 4 ℃ and whipped cream at between 10 and 15 ℃. After isothermal crystallization at 25 ℃ for 1 h, the three samples were observed under a polarized light microscope: MF-A, which had a low iodine value and a high melting point, formed the nucleus quickly and induced the surrounding fat to crystallize continuously until aggregated to form a dense crystalline network; MF-B exhibited a combination of spherulites and needle-like crystals, and the crystal network was incomplete; MF-C crystals were sparsely distributed with the diameter of each crystal less than 20 μm. Subsequently, dairy creams XMF-A, XMF-B and XMF-C were prepared using MF-A, MF-B and MF-C, respectively. As can be seen in the particle size distribution chart, XMF-A is basically unimodal, suggesting that the cream emulsion was relatively stable and the fat globules were not coalesced. Both XMF-B and XMF-C are bimodal, suggesting partial coalescence of the fat globules, with XMF-C’s degree of coalescence greater than that of XMF-B, providing XMF-C with the largest average particle size. The dynamic light scattering results recorded the average particle size of milk fat globules as follows: XMF-AXMF-B>XMF-C (p<0.05). The results of this research, which examines the physicochemical properties of milk fats in their continuous/dispersive phase and the mechanism of milk fat composition and crystallization behavior on dairy cream quality, thus provide a theoretical basis for the selection of raw materials in the preparation of a variety of dairy products.