PURPOSE: To prepare an emulsified composition exhibiting excellent emulsion state under a weakly acidic condition, and having desirable palatability as food and improved physical properties, by using soya milk obtained by extracting soybeans with an aqueous solution of a univalent or bivalent salt, as a raw material.

CONSTITUTION: Soybeans are extracted with an aqueous solution, preferably hot aqueous solution containing univalent and/or bivalent neutral salt such as NaCl, KCl, Na2SO4, CaCl2, MgCl2, etc., and the extract is adjusted to 3.5W6.0pH and salt concentration of 0.2W4.0 in terms of ionic strength by adding an organic acid such as acetic acid, citric acid, etc. Before or after the pH-adjustment, the extract is heated at 70W150°C for 60minW3sec to obtain soya milk containing 1.5W12% of solid soybean component. An oil is emulsified by using said soya milk as the water phase at a ratio of the oil phase to the water phase of (30W 70):(70W30).