In this research 60 samples including ewes milk, tradionally made yoghurt and butter milk were evaluated for the presence of Lactic Acid Bacteria (LAB). Based on microbiological and biochemical examinations 77 LAB isolates were identified which were then screened for their antibacterial potential against each other. Thirty three isolates showing antibacterial action against the closely related strains were further challenged to pathogenic bacteria like Listeria monocytogenes, Staphylococcus aureus and Salmonella enteritis. Two of the isolates demonstrated maximum inhibitory action against the tested pathogenic bacteria and were thus selected for further investigations. When subjected to pH and bile salts the two selected isolates showed resistance to acidic pH values and 0.3% bile salts. Both the isolates were able to lower cholesterol levels significantly in both live and dead state. Using standard API kit, the two mentioned isolates were identified as Lactobacillus brevis and Pedicoccus acidilactici. Owing to the fact, that numerous LAB are present in raw milk, tradionally made yoghurt and sour butter milk; it seems possible to use these products as probiotic source. These probiotic bacteria have vast utilization in food and drug industries.