The present invention discloses a fast and controlled process to produce water dispersible lecithin from crude lecithin using chemical treatment. The water dispersible lecithin obtained using this process is having very low acid value with acetone insoluble value of 60- 65%. The water dispersibility of the lecithin obtained is 98-100%. This water dispersible lecithin can be used as choline supplement in poultry and aqua feed and in bakery and food products as emulsifier.