PROBLEM TO BE SOLVED: To provide a method of making cheese emulsified product, having a fresh cheese content higher, preferably 50% or more as compared with that of the prior art, and good flavor and excellent preservation stability using fresh cheese.SOLUTION: This method of making cheese emulsified product composed of polyglycerol fatty acid ester, fresh cheese and water, includes: a first process of dispersing polyglycerol fatty acid in water and dispersing the water to form vesicle having the average particle size of 10-600 nm and a second process of adding fresh cheese to the polyglycerol fatty acid ester dispersed aqueous solution prepared by the first process and emulsifying the same.