Milk protein concentrates (MPCs) are highly nutritional and functional products manufactured from skim milk with low lactose levels. But, solubility of MPC decreases with time and temperature of storage, which often limits their application in food industries. The aim of present study is to compare the effect of nanofiltration and evaporation technologies on the rehydration stability of milk protein concentrates during storage. The MPCs produced by evaporation and nanofilteration were stored at different temperatures (25, 35, and 45 °C) for a period of 24 weeks to observe any changes in the storage stability. The results showed that at a given storage temperature, the rehydration properties, such as solubility, viscosity, turbidity, and particle size of the nanofiltered milk protein concentrate (NF-MPC) were better compared to the same properties of the evaporated milk protein concentrate (EP-MPC). In addition, the contents of soluble protein, calcium, phosphorus, and magnesium of NF-MPC were higher than that of EP-MPC. However, no significant differences were observed in the contents of soluble lactose, sodium, and potassium of EP-MPC and NF-MPC during storage. The insoluble materials of MPC were mainly caseins with small amount of whey proteins and some other protein aggregates. Our results indicate that NF-MPC has better storage stability compared to EP-MPC.