VERB (2)

1. cause to become an emulsion; make into an emulsion;

2. form into or become an emulsion;
- Example: "The solution emulsified"

The Collaborative International Dictionary of English v.0.48:

Emulsify \E*mul"si*fy\, v. t. [Emulsion + -fy.]
   To convert into an emulsion; to form an emulsion; to reduce
   from an oily substance to a milky fluid in which the fat
   globules are in a very finely divided state, giving it the
   semblance of solution; as, the pancreatic juice emulsifies
   the oily part of food.
   [1913 Webster]

WordNet (r) 3.0 (2006):

emulsify
    v 1: cause to become an emulsion; make into an emulsion [ant:
         demulsify]
    2: form into or become an emulsion; "The solution emulsified"
       [ant: demulsify]