A process of producing a highly stable liquid crystal emulsion composition with improved qualities, in which a conventional complicated and costly process that requires specific equipment is streamlined into a simple and less costly process. A method of producing a liquid crystal emulsion composition having liquid crystal structure, comprising the steps of admixing 3 to 8 parts by weight of a hydrophilic surfactant which is a polyoxyethylene polyoxypropylene alkyl ether having an HLB of 10 to 20 with 2 to 6 parts by weight of a lipophilic surfactant; admixing 5 to 10 parts by weight of the resulting admixture with 5 to 30 parts by weight of an oil component; admixing the obtained admixture with a mixture of 40 to 80 parts by weight of a water-soluble polyvalent alcohol and 8 to 40 parts by weight of water; and heating, homogeneously mixing and then cooling the thus obtained admixture.