This study deals with the effect of whey protein isolate/sodium alginate/licorice root extract ternary foam as a fat and sugar replacer at different substitution levels (0, 25, 50, 75, and 100% w/w) on the physicochemical, rheological, and sensory properties of ice creams. The foam-loaded ice cream mixes showed significantly lower density and higher apparent viscosity compared to the control sample. The low-fat and low-sugar ice creams had manifestly higher elastic (Gʹ) and viscous (Gʹʹ) values than the control ice cream. The overrun (up to 51.03%), gas-hold up (up to 33.76%), and hardness (up to 18.43-fold) increased, and caloric value (167.43–48.37 kcal/ 100 g), meltdown (85.04–29.83%), and overall acceptance (8.88–2.66) reduced by increasing the substitution level. However, the ice cream with a 25% substitution level of sugar and fat by the foam had textural and sensory characteristics similar to that of the control sample (p > 0.05). Therefore, the foam-loaded ice creams could be marketed as a functional product in the future, particularly aiming at specific populations such as people who suffer from overweight, obesity, or other related complications.

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