The present invention relates to a resin emulsion which has a good emulsification performance even when produced by using a crosslinked polyester resin as a binder resin, and also is capable of producing a toner having an excellent storage property therefrom; and a process for producing the resin emulsion. The process for producing a resin emulsion according to the present invention, includes the steps of: (a) mixing a resin containing a polyester having at least one constitutional unit selected from the group consisting of a constitutional unit derived from a trivalent or higher-valent alcohol component and a constitutional unit derived from a trivalent or higher-valent carboxylic acid component, an anionic surfactant, a nonionic surfactant and an aqueous medium with each other at a temperature not lower than a softening temperature (Ts) of the resin as measured by a flow tester method, the nonionic surfactant and the aqueous medium being used in amounts of from 0.1 to 1.0 part by weight and from 10 to 50 parts by weight, respectively, on the basis of 100 parts by weight of the resin; and (b) neutralizing a mixture obtained in the step (a) with a basic compound in an aqueous medium at a temperature not higher than a softening point (T1/2) of the resin as measured by a flow tester method.