PROBLEM TO BE SOLVED: To provide a novel emulsifying agent that is highly safe, exhibiting alone high emulsifying capability and emulsification stability a water-soluble composition containing a lipid-soluble substance obtained by the use of the emulsifying agent and processes for producing them.SOLUTION: There is provided an emulsifying agent comprising as an active ingredient a glycoprotein complex contained in the culture fluid obtained by culturing red yeast in a culture fluid. Further, there is provided a water-soluble composition comprising the emulsifying agent and a lipid-soluble substance. Still further, there are provided processes for producing the emulsifying agent and the water-soluble composition.COPYRIGHT: (C)2006,JPO&NCIPI【課題】安全性の高い、単独で高い乳化性と乳化安定性を示す新規な乳化剤、当該乳化剤を用いることで得られる脂溶性物質を含有する水溶性組成物、及び、これらの製造法を提供すること。【解決手段】赤色酵母を培養液中で培養して得られる培養液中の糖タンパク質複合体を、有効成分として含有してなる乳化剤。また、当該乳化剤及び脂溶性物質を含有してなる水溶性組成物。さらに、当該乳化剤及び水溶性組成物の製造方法。【選択図】なし