Abstract: Disclosed is an improved bacon analog and a process for preparing it. The bacon analog comprises: (1) a fat phase based on a heat coagulable component selected from the group consisting of egg albumen, blood albumin and combinations of these, a water-soluble, film-forming component such as gelatin, and a fat component; and (2) a lean phase based on a loose oil-in-water dispersion of a heat coagulable protein component such as egg albumen and a fat component which comprises a blend of palm oil with a partially hydrogenated soy bean oil. The lean phase, due to the oil blend, the loose dispersion and deaeration, when used with the particular fat phase formulation, has a chewy texture much like natural bacon. Moreover, the product responds to frying by browning and crinkling much like natural bacon. The novel process calls for deaerating the lean phase, and dry blending the gelatin with the other fat phase dry components prior to adding water in preparing the fat phase.