An emulsion composition of the present invention includes (A) a salt of a higher fatty acid ester of ascorbic acid-2-phosphoric acid ester, (B) a polyglycerin fatty acid monoester including polyglycerin having a mean polymerization degree of 8 to 12 and an unsaturated fatty acid residual group of 14 to 22 carbon atoms, (C) a polyglycerin fatty acid monoester comprising polyglycerin having a mean polymerization degree of 2 to 6 and an unsaturated fatty acid residual group of 14 to 22 carbon atoms, and (D) a hydrocarbon oil, wherein the blending ratio by mass between the component (B) and the component (C) is in the range of 1:1 to 3:1, and the blending ratio by mass between the total of the components (B) and (C) and the component (D) is in the range of 10:1 to 1:4. By the use of the emulsion composition of the present invention, a skin external preparation can be provided which is prevented from decrease of a salt of a higher fatty acid ester of ascorbic acid-2-phosphoric acid ester attributable to decomposition of the salt, is excellent in retention of moisture, and has a beautiful appearance.