The work aims to develop the compound beverage with collagen peptide (1-5 ku) prepared from Takifugu rubripes skin and jujube as raw materials, and determine the optimum production process. Nitrogen yield and sensory evaluation were used as indicators to study the effects of three factors, such as deodorization time, deodorization temperature and activated carbon addition, on the deodorization effect of collagen peptide by single factor and orthogonal experiments. The sensory evaluation was used as an indicator to study the effects of addition ratio of collagen peptide and jujube juice, the amount of sucrose added, and the amount of citric acid on the flavor, clarity, aroma and color of collagen peptide jujube juice by single factor and orthogonal experiments. The total number of colonies and sensory evaluation were used as indicators to study the effects of temperature on the sterilization effect of collagen peptide jujube juice composite beverage. When the addition amount of activated carbon was 2.00 mg/mL, the deodorization temperature was 40 °C, the deodorization time was 20 min, the addition ratio of collagen peptide and jujube juice was 2∶1, the amount of sucrose added was 2.50%, the amount of citric acid was 0.15%, and the sterilization lasted for 10 minutes at the pressure of 0.02 MPa and the temperature of 105 °C, the sensory score was the highest and the developed beverage was sweet, sour and smooth, and had a strong red jujube aroma and unique collagen aroma. Appropriate activated carbon addition, deodorization temperature, deodorization time, sucrose and citric acid addition, addition ratio of collagen peptide and jujube juice and sterilization conditions can maximize the unique flavor of the beverage.