The problem addressed by the present invention is to provide: an emulsified oil composition that easily fits in with confectionary production and bread production dough, and obtains high foaming power and foam stability; and confectionary/bread that uses the emulsified oil composition and has a favorable flavor and favorable mouth digestibility while having a moist and soft mouthfeel. The emulsified oil composition contains the belowmentioned (A), (B), (C), and (D): (A) is 10-40 mass% of dietary oils satisfying (a) and (b) ((a) being 30-80 mass% of HX2-type triacyglycerol content and (b) being 5-40 mass% of H2X-type triacylglycerol content (where H represents a saturated fatty acid and X represents an unsaturated fatty acid)); (B) is 2-20 mass% of a monoacylglycerol having a saturated fatty acid as a constituent fatty acid; (C) is 2-20 mass% of at least one type of emulsifier selected from among a propylene glycol fatty acid ester, a sucrose fatty acid ester, a sorbothane fatty acid ester, and a polyglycerol fatty acid ester; and (D) is 10-50 mass% of water.本發明所欲解決的問題在於提供一種乳化油脂組成物及一種點心麵包,該乳化油脂組成物易於拌入製造點心及麵包用之麵糊,並具有高發泡力及高氣泡安定性;該點心麵包是使用該乳化油脂組成物而成,既有溼潤及柔軟的口感,又易於入口且風味良好。為了解決此問題,本發明之乳化油脂組成物,其含有以下的成分(A)、(B)、(C)及(D):(A)食用油脂10~40質量%,其滿足以下條件(a)、(b),(a)HX2型三酸甘油酯含量30~80質量%、(b)H2X型三酸甘油酯含量5~40質量%,(其中,H代表飽和脂肪酸,X則代表不飽和脂肪酸);(B)單酸甘油酯2~20質量%,其以飽和脂肪酸作為構成脂肪酸;(C)乳化劑2~20質量%,其是選自丙二醇脂肪酸酯、蔗糖脂肪酸酯、去水山梨醇脂肪酸酯、及聚甘油脂肪酸酯中的1種以上;(D)水10~50質量%。