Oil-in-water emulsions stabilized by different concentrations of two fractions (7S and 11S) of soy protein, with or without heat treatment at 70 or 90°C, were investigated. Emulsions stabilized by 7S showed smaller droplets than those containing 11S. Moreover, emulsions stabilized by heat treated mixtures enriched in 11S produced gel after high pressure homogenization. Emulsions produced from 75% of 7S and 25% of 11S without or with heat treatment at 70°C showed the smallest droplets, indicating a synergistic effect between them. Thus, the combination between 7S and 11S has a great potential to be used as natural emulsifier in food-grade emulsions.