Many food products either partly or wholly exist as an emulsion where a liquid disperses as small droplets in another immiscible one. Food emulsions are usually composed of oil and water in the food industry and include milk, cream, mayonnaise, and coffee whitener. The palatability of food emulsions that mainly involve preferred taste, texture, and flavor is dependent on the materials formulated but also on the nature, structural and physical properties of the manufactured emulsions. In this article, effects of the properties at the initial state on the palatability of oil-in-water type emulsions are discussed, followed by arguments on the impact of dynamic changes in the mouth, a recent trend of food research. While the variety and content of oils and fats and small molecule emulsifiers often modified the mouthfeels of the emulsions, the oils and fats content predominantly affects the released aroma. An increased viscosity with added thickening agents significantly enhances creaminess of the emulsions among oils and fats-related sensations. During the mastication of the emulsion, they dynamically change in their physical states to be more thermodynamically stable via creaming, flocculation, and coalescence. The significance of qualitative and quantitative changes of the orally processed emulsions was systematically analyzed for relating to perceived creaminess, fattiness, and thickness. On the other hand, effects of the changed physical states on the aroma profile are still controversial. Further research will be required for aroma components, orally processing conditions, and so on. The authors emphasized that the dynamic changes in consumption ought to be linked to fortified palatability of the food emulsions for the benefit of the consumer.