A lipid emulsion which comprises (A) an oil component, (B) an emulsifying agent containing yolk lecithin and/or soybean lecithin, and (C) water, wherein the lipid emulsion further comprises citric acid or a pharmaceutically acceptable salt thereof and at least one member selected from the group consisting of methionine, phenylalanine, serine, histidine and pharmaceutically acceptable salts thereof, provided that it does not simultaneously contain methionine and phenylalanine. The addition of citric acid and histidine, methionine, phenylalanine and/or serine to a lipid emulsion containing natural lecithin as an emulsifying agent permits the prevention of change of color and formation of oil drops associated with the conventional natural lecithin-containing lipid emulsion due to the synergistic effect of the foregoing additives. The drug-containing lipid emulsion is also excellent in storage stability and thus the foregoing lipid emulsion can be applied to drugs such as injections, eye drops, nasal drops, lotions or liniments, inhalants and drugs for oral administration or cosmetics such as humectants.