Abstract: A process for emulsifying a functionalized polyolefin is described. A functionalized polyolefin having a weight average molecular weight greater than 10,000, a fatty acid, a base in an amount sufficient to neutralize the functionalized polyolefin and the fatty acid, a surfactant and water are mixed in a pressure reactor vessel to form a pre-emulsion concentrate having a solids concentrate ranging from about 55 to 90% by weight. The pre-emulsion concentrate is then heated with agitation in the reaction vessel to an emulsification temperature, preferably at or above the melting point of the highest melting polymer in the formulation, for a time sufficient to form an emulsion concentrate. Water is then added to the emulsion concentrate within the pressure reactor vessel, diluting the solids content to about 5 to 50% by weight, and heated with agitation to the emulsification temperature for a time sufficient to form a functionalized polyolefin emulsion. Preferably, the resulting emulsion is rapidly cooled.