Banana preserve is produced by mixing the puree of the fruit with sucrose and organic acids. However, concerns about body esthetics or health reasons have encouraged the search for low-calorie products. Therefore, the objective of this study was to evaluate the effect of calcium chloride (CaCl2), carrageenan gum, and low methoxyl pectin (LM-pectin) on the physicochemical and sensory characteristics of sugar-free banana preserves. By using a central composite rotational design (CCRD) of 2³ + 6 axial points + 4 central points, we obtained 18 formulations that were further tested. Lower CaCl2 concentrations (0.54% to 0.61%) resulted in preserves with lower pH and more vivid color. The increased concentration of LM-pectin (1.40% to 1.64%) resulted in formulations with a yellowish-red hue and with lower moisture, thus, reducing the flavor and purchase intention of the product. Higher concentrations of carrageenan gum (1.04% to 1.15%) decreased the perception of banana preserve aroma. Therefore, concentrations of CaCl2 ranging from 0.54% to 0.61%, carrageenan gum ranging from 0.74% to 0.89% and LM-pectin ranging from 1.40% to 1.64% resulted in sugar-free banana preserves with ideal sweetness and consistency and were, therefore, more acceptable.