Fourteen samples of instant cocoa drinks with different compositions of main ingredients (cocoa, milk, sugar) and stabilizer content were evaluated by a trained sensory panel. Fifteen sensory attributes concerning appearance, odor, texture and flavor were evaluated with focus on the complex term mouthfeel. The sensory properties of the cocoa drinks were related to measured physical, chemical and rheological properties by means of Partial Least Squares Regression. A high positive covariation was revealed between sensory and rheological measured viscosity properties. Mouthfeel in cocoa drinks was found to depend on both viscosity and flavor properties. These findings suggest that in addition to the prevailing ISO definition of mouthfeel, which is limited to a description of tactile characteristics, interaction with flavor may be included. Both stabilizer and main ingredients were shown to have distinct effects on the sensory properties. A consumer test showed a negative correlation between mouthfeel and consumer preference, within the range of cocoa drinks studied.