Background: Milk and dairy products are important sources of protein, vitamins (B2, B12), and minerals (calcium, zinc), playing a key role in maintaining normal body weight, bone structure, and overall health. However, in Mongolia, regular milk consumption among school-aged children is inadequate, and scientific evidence on its association with growth, micronutrient status, and bone health is limited. Objective : To determine the relationship between weekly milk consumption and children’s physical growth, bone softening, and serum levels of vitamin D and selected minerals. Material and Methods: A cross-sectional study was conducted in December 2024 among 453 students aged 7–12 years from six general education schools in Ulaanbaatar. Participants were classified into three groups based on weekly milk consumption: (1) non-consumers, (2) consumers at school or home, and (3) consumers at both school and home. Anthropometric measurements were obtained, and BMI z-scores were calculated using WHO growth reference standards. Blood samples were analyzed for vitamin D, calcium, magnesium, and zinc, and bone mineral density was measured. Data were analyzed using SPSS 26, applying independent t-tests, chi-square tests, and ANOVA, with p<0.05 considered statistically significant. Results: Children consuming milk regularly at both school and home had higher mean height (139 ± 8 cm) compared to non-consumers (136 ± 17 cm), though differences were not statistically significant (p=0.33). BMI was more often in the normal range among dual-site consumers (56.4%) compared to non-consumers (43.4%) (p<0.05). Vitamin D deficiency was less prevalent among dual-site consumers (47%) than in other groups (p<0.05). Magnesium (0.86±0.07 mmol/L) and zinc (18.74±2.48 μmol/L) levels were significantly higher in this group (p<0.05). Bone softening prevalence was lower among dual-site consumers (47.8%) compared to non-consumers (58.3%) (p=0.026). No significant associations were found between milk consumption and red blood cell indices. Conclusion Regular milk consumption is associated with improved BMI status, higher serum magnesium and zinc levels, and lower prevalence of bone softening among school-aged children in Ulaanbaatar. These findings support the potential role of school milk programs in enhancing child nutrition and bone health in Mongolia.