The object is to provide: a fat emulsion containing a medicinal agent, which can be used as an injection preparation, an eye drop, a nose drop, an inhalation preparation or the like and which has transparency and excellent stability and a process for producing the fat emulsion. Specifically disclosed is a fat emulsion containing a medicinal agent, which comprises at least a poorly water-soluble medicinal agent, an oil-and-fat, an emulsifying agent and water, wherein the content of the oil-and-fat is 0.05 to 2 mg/mL and wherein the ratio of the medicinal agent to the oil-and-fat [(medicinal agent)/(oil-and-fat)] is 0.01 to 20 by weight (provided that the total amount of the medicinal agent and the oil-and-fat is up to 5 mg/mL), and wherein the ratio of the emulsifying agent to the oil-and-fat [(emulsifying agent)/(oil-and-fat)] is 1 to 300 by weight. Also specifically disclosed is a process for producing the fat emulsion, which comprises emulsifying the constituent components, wherein the content of the oil-and-fat is 0.05 to 2 mg/mL and wherein the ratio of the medicinal agent to the oil-and-fat [(medicinal agent)/(oil-and-fat)] is 0.01 to 20 by weight (provided that the total amount of the medicinal agent and the oil-and-fat is up to 5 mg/mL), and wherein the ratio of the emulsifying agent to the oil-and-fat [(emulsifying agent)/(oil-and-fat)] is 1 to 300 by weight.
