Replacement of pomegranate seed oil by milk fat at the levels of 2.0% and 4.0% (w/w) increased the conjugated fatty acid content. However, perception of oxidized flavor increased with the additional seed oil. When one considers the functional and nutritional improvements in the enrichment of the ice cream together with overall acceptability results of the sensory analysis, then it follows from this study that ice creams enriched with pomegranate peel phenolics up to 0.4% (w/w) and pomegranate seed oil up to 2.0% (w/w) could be introduced to markets as functional ice cream. Enrichment of ice creams with pomegranate by-products might provide consumers health benefits with striking functional properties of punicalagins in pomegranate peel, and punicic acid in pomegranate seed oil.