A process for preparing a silver halide emulsion wherein a sulfur-containing silver halide solvent which accelerates growth of silver halide grains and an oxidizing agent capable of reducing or eliminating the grain growth effect of the sulfur-containing silver halide solvent are used, and a silver halide photographic light-sensitive material containing the silver halide emulsion prepared by the process are disclosed. The grain growth effect of the sulfur-containing silver halide solvent can be controlled at any necessary stage without accompanying substantial deterioration in photographic properties.