The aim of this study was to investigate the effect of nervonic acid (NA)-containing modified milk (NA-MM) on scopolamine-induced memory impairment in mice. After 30 d of treatment, behavioral analyses demonstrated that NA-MM improved cognitive dysfunction in mice as demonstrated by Y maze, novel object recognition, and open field tests. The NA-MM reduced hippocampal oxidative stress by enhancing superoxide dismutase and glutathione peroxidase activities and decreasing malondialdehyde levels. The NA-MM also regulated the cholinergic system by reducing acetylcholinesterase activity and increasing acetylcholine levels. Additionally, NA-MM improved blood lipid profiles, reducing serum triglyceride, cholesterol, and low-density lipoprotein levels while increasing high-density lipoprotein levels, thereby increasing blood microcirculation. In addition, the intervention increased gut microbiota diversity, adjusted the Firmicutes-to-Bacteroides ratio, and reshaped the microbial composition. This study supports the potential of NA-MM as a functional food to improve memory.