Heat the water, milk, olive oil, salt, and sugar in a small saucepan over medium heat, stirring occasionally, until warm to the touch, about 5 minutes. Do not let it boil.
Crumble the yeast cube into a large bowl. Pour the warm water-milk mixture into the bowl and whisk with a fork for 1-2 minutes until the yeast dissolves completely.
Add the flour and knead with your hands or an electric mixer for 8-10 minutes until the dough becomes soft and no longer sticky. Add flour gradually if needed to reach this consistency.
Cover the bowl with a damp kitchen towel or plastic wrap and let the dough rest at room temperature for 1 hour until it has risen visibly.
Punch down the dough and knead for 1 minute. Divide the dough into 3 equal portions and shape each into a pizza base.