Due to health and overweight concerns, there is an increasing interest of consumers for low-fat food. The objective of this work was to study the differences in sensory properties of a Uruguayan low-fat cheese “queso magro”and to establish whether there is a relationship with its acceptability. Six samples of this type of cheese from different commercial brands were studied. The sensory properties of these cheeses were evaluated by a trained panel and subsequently sample acceptability was evaluated by 84 consumers. Uruguayan low-fat cheeses were characterized by having a soft odor and taste, intermediate firmness, medium–high elasticity, and low friability. Samples mainly differed in their texture attributes, firmness, and elasticity though slight variations were observed for flavor attributes. Consumers’ liking scores varied widely among samples. The analysis of the relationship among sensory properties and acceptance revealed that flavor attributes like odor and taste intensity, bitterness and aftertaste were those that dictated the differences in acceptance. According to that, in the manufacture of Uruguayan low-fat cheese, to develop a product highly accepted by consumers, efforts should be directed mainly to improve odor and flavor.