To obtain an oil in water-type emulsion for a frozen whipped cream and the frozen whipped cream preserved as frozen in a whipped state, not showing the phenomena of the reduction in an overrun, of a settling or a reversion in its thawing and good in squeezing property.

This oil in water-type emulsion for a frozen whipped cream contains 0.1-3.0wt.% emulsifying agent, 10-50wt.% oil and fat, 40-80wt.% water, 7-30wt.% carbohydrate and 0.4-5.0 milk protein, and the emulsifying agent contains a sucrose unsaturated fatty acid ester ≥60wt.% of which constructing fatty acid is a ≥18C unsaturated fatty acid and having 0-5 HLB, and a polyhydric alcohol ester of unsaturated fatty acid ≥80wt.% of which constructing fatty acid is a saturated fatty acid. The emulsion is whipped and then frozen to form the frozen whipped cream.