This study aimed to develop a light cream cheese spread of goat milk enriched with phytosterols, and to evaluate the physicochemical, rheological, and microbiological parameters. Three formulations of light cream cheese spread were developed: without phytosterols (LGC), with 3 g of phytosterols/100 g (LGC3) and with 6 g of phytosterols/100 g (LGC6). Traditional cream cheese spread (TGC) was used as a control. The light formulations showed high protein content (15.88 g/100 g) and reduced fat content (12.00 g/100 g), which contributed to the caloric reduction of the products when compared to (TGC). The apparent viscosity at 10 s-1 (201.8–224.8 Pa s) and adhesiveness (12.80–13.20 mJ) parameters in LGC3 and LGC6 differed significantly from TGC product. All spreads were in accordance with the microbiological standards recommended by Brazilian legislation during the 90 days of monitoring. The results indicate that the light cream cheese spread from goat milk can be used as matrix for introducing phytosterols. Therefore, the light cream cheese spread from goat milk with the addition of 6 g of phytosterols/100 g presented characteristics of a functional food with potential for LDL cholesterol reduction.