Provided are cream having high content of hydrogen gas and little adverse effect on skin, and a method for producing the same. The cream of the present invention is a cream comprising hydrogen gas in a bubble state in a composition including a fatty acid salt with ten or more carbons, a fatty acid with ten or more carbons and a liquid medium, and the content of hydrogen gas in a bubble state in the cream is 0.1 to 100 volume% [v/w]. The method for producing the cream of the present invention comprises preparing a composition including a fatty acid salt with ten or more carbons, a fatty acid with ten or more carbons and a liquid medium; inclusion of hydrogen gas in a bubble state into the composition; and thickening the composition including hydrogen gas in a bubble state.本發明提供一種氫氣的含有率多,且對肌膚的不良影響小的乳劑及其製造方法。本發明的乳劑為於包含碳數10以上的脂肪酸鹽、碳數10以上的脂肪酸及液狀介質的組成物中含有氣泡狀態的氫氣的乳劑,且乳劑中的氣泡狀態的氫氣的含有率為0.1體積%[v/w]~100體積%[v/w]。本發明的乳劑的製造方法包括:製備包含碳數10以上的脂肪酸鹽、碳數10以上的脂肪酸及液狀介質的組成物,使組成物含有氣泡狀態的氫氣,且使含有氣泡狀態的氫氣的組成物增稠。