The purpose of the present invention is to provide an emulsifiable formulation of a liposoluble substance that improves the emulsifiability of the liposoluble substance. The water dispersibility of a liposoluble carotenoid can be improved greatly by forming a complex (micelle) of at least one selected from the group consisting of crocetin, norbixin, and monoglycoside esters thereof and a liposoluble carotenoid in the presence of water.