PURPOSE: To obtain the subject emulsion, containing oils and fats having a specific solid fat content(SFC) and further a specified amount or more of a nonfat solid matter, having high emulsification stability and improved in whipping properties, flavor and meltability in the mouth after whipping.

CONSTITUTION: This emulsion contains oils and fats having ≥70%, preferably ≥85% SFC at 5°C, ≥40%, preferably ≥55% SFC at 15°C and ≥35%, preferably ≥40% SFC at 20°C (preferably soybean oil, rapeseed oil, cottonseed oil, palm oil, palm kernel oil, coconut oil or milk fat). The content of oils and fats is ≥30wt.% and that of a nonfat solid matter is ≥10wt.%, preferably 12-30wt.%.