An apparatus for quickly preparing infant formula and beverage comprising: a powder container for storing dry formula or beverage powder, a powder dispenser for dispensing controllable amount of formula or beverage powder into a milk bottle or a cup, a water container for storing water, a heat-exchanging reservoir for heating up or cooling down water to an ideal temperature, a water delivery system for delivering controllable amount of water from the water container to the heat-exchanging reservoir and then from the heat-exchanging reservoir to the milk bottle once the water is adjusted to the ideal temperature. The device has a main setting and controlling system to set up parameters of powder dispensing amount, water dispensing temperature and water dispensing volume prior to a formula or beverage preparation, so that the apparatus can prepare infant formula or beverage with ideal volume, concentration and temperature. The apparatus in present invention can also include an external mixing system which apply shaking or vibration (can be ultrasonic) to the bottle or cup for mixing and dissolving powder with water inside it and a remote controlling system so that a user can start the formula or beverage preparation process from a distance.