The black liquor is one of the by-products of pulp and paper factory, this waste liquor from the digestions process contains organic and inorganic compounds. The oil/water-emulsions were prepared from the black liquor as the main sources for lignin. Its stability was studied for different organic phases, among: benzene, toluene, xylene, kerosene, heptane, decane. The results demonstrate the major stability for the emulsions with organic aromatic than aliphatic phases