PROBLEM TO BE SOLVED: To provide a method of producing a powder L-ascorbic acid fatty acid ester formulation which is improved further in water dispersibility.SOLUTION: A method of producing a powder L-ascorbic acid fatty acid ester formulation is based on adding an L-ascorbic acid fatty acid ester, a powdered base material and an oil-soluble substance to water to emulsify and drying the resultant oil-in-water type emulsion composition, and the emulsification is carried out by one of the following methods. Method 1: adding the oil-soluble substance to a water phase containing the L-ascorbic acid fatty acid ester and the powdered base material to emulsify. Method 2: adding the other of the L-ascorbic acid fatty acid ester and the powdered base material and the oil-soluble substance simultaneously and directly to a water phase containing one of the L-ascorbic acid fatty acid ester and the powdered base material and the oil-soluble substance to emulsify. Method 3: adding the L-ascorbic acid fatty acid ester, the powdered base material and the oil-soluble substance simultaneously and directly to water to emulsify.