Abstract Greek‐style yogurt (GSY) has gained reputation as a healthy food because of its high protein content. Vaccinium meridionale S. is a bilberry with a high content of bioactive phytochemicals, whose vaccinium meridionale pomace (VMP) represents about 20% of the fruit weight. However, this byproduct is normally discarded as waste. In this study, VMP was used as a natural colorant in GSY. Coloring before or after the fermentation process resulted in significant increase in anthocyanins, total phenolics content, antioxidant activity, conjugated linoleic acid, and sensory acceptance. These results indicate that VMP is a potential natural, eco‐friendly, and functional colorant to improve the nutritional value of GSY. Practical Application Vaccinium meridionale pomace is a waste product with potential to be utilized as a natural, eco‐friendly, and functional colorant to obtain value‐added Greek‐style yogurt. Besides providing bioactive compounds and natural color, this pomace improves the nutritional value, sensory acceptance, and functional properties of Greek yogurt.