The invention described is a milk protein composition having a high percentage of the whey protein from the dairy stream from which is was derived bound to the casein from that stream. The composition is prepared by a process in which the dairy stream heated during a holding period. A transglutaminase enzyme is added and the stream is again heated. This is followed by a step of coagulating the curd in the protein composition by the addition of a milk clotting enzyme or by acidifying. The milk protein composition may then be dried into a powder for use in cheese making.