The process for the preparation of Saffron Cream Liqueur comprising:--preparing saffron concentrate by adding saffron 1-5 gm. in one liter of ENA (extra neutral alcohol) of 68% OP, i.e., 96% v/v,--intermittently stirring the said mixture of ENA and saffron for 18-36 hours, extracting the essential oil containing aroma, color and flavor,--filtering the said mixture of saffron and the ENA to obtain the saffron concentrate, diluting the said concentrate from 68% OP to -9-45% by adding demineralized water at room temperature, adding about 5-15% food grade white milk cream and properly mixing it, adding about 5-20% food grade sugar and mix till sugar is dissolved,--adding about 1-5% food grade flavoring agent and mixing it thoroughly and filtering to get saffron cream liqueur.