A method of preparing a fine oil-in-water emulsion comprising an oil phase based on silicone and/or hydrocarbon oils, in which the oil phase particles have an average particle size of 150 nm or less. The emulsion is stabilized by a carboxy-modified silicone in combination with a C16 to 22 higher alcohol; a nonionic surfactant having a POE chain and an HLB of 5 to 10; and a dihydric glycol. The emulsions can be prepared without the use of a high-pressure emulsifying apparatus.