Abstract: By utilizing the process of the present invention, a free-flowing crumb rubber composition can be easily prepared on a commercial scale. This invention more specifically discloses a process for preparing a free-flowing crumb rubber composition which comprises the steps of:(1) extruding a rubbery polymer into a wax emulsion; wherein the rubbery polymer is extruded into pellets having a diameter which is within the range of about 1 mm to about 15 mm; wherein the wax emulsion is comprised of about 35 weight percent to about 89 weight percent water, from about 10 weight percent to about 50 weight percent of a wax, and from about 1 weight percent to about 15 weight percent of an emulsifier; wherein the wax has a melting point which is within the range of about 40.degree. C. to about 175.degree. C.; and wherein the wax emulsion is at a temperature which is within the range of about 5.degree. C. to about 70.degree. C.