Lifestyle diseases are found to be rapidly increasing in frequency, in both developed and developing countries due to industrialization and faulty dietary habits. Several agents used to correct these diseases do not become healthy alternatives as besides being expensive they produce a wide spectrum of adverse effects. In this context, a study was conducted to develop a Functional Food Supplement (FFS) using locally available food items that are inefficiently used in daily diet due to ignorance or over sight but are rich in bioactive compounds and has the twin ability of nourishment and therapeutic action. The constituents for the FFS contain barley, ragi, banana, defatted soy flour, drumstick leaves and mushrooms. Fermentation followed by dehydration was the processing techniques applied to standardize FFS. In-depth study on phytochemicals and nutrient content proved that the identified FFS contained 48.33 ± 2.08 mg of poly phenols, 5.75 ± 0.25mg of Tannin, 1.2 per cent of flavonoids and 93.5 ± 3.61 mg of phytates. The energy content (378 kcal), protein (16.5 g), carbohydrates (39 g) and dietary fiber (3.3 g) were more suitable for management of lifestyle diseases. The mineral and vitamin composition supports the nutritional and therapeutic role of FFS, validating their clinical efficacy.