Disclosed is a foamable oil-in-water emulsion which has excellent feeling in the mouth, meltability in the mouth, and flavor and taste when whipped into a whip cream and also has high emulsion stability and whipping property. The foamable oil-in-water emulsion comprises an oil-and-fat component, a non-fat milk solid and water, in which the content of S2L-type triglyceride (wherein S means stearic acid and palmitic acid and L means linoleic acid) in the oil-and-fat component is 0.8 to 18% and is smaller than 8/900.times.(X-45).sup.2+8 (wherein X represents the percentage of the oil-and-fat component, provided that it falls within the range of 10 to 45), and the content of S2L-type triglyceride in the foamable oil-in-water emulsion is as small as several percent or less, and the SFC of the oil-and-fat component falls within the range of 50 to 95 at 10.degree. C.