This study focuses on an emulsion as a new thermal storage material for ice storage. Two types of emulsions were formed using an oil-water mixture with a small amount of additive. A silicone, light and lump oils were used. The water contents of the emulsions were 70, 80 and 90%. The additive was an amino group modified silicone oil. No depression of freezing point was observed for the emulsions because of their hydrophobic properties. In order to determine the structure of the emulsions, their electrical resistances were measured. Moreover, components of the liquids separating from the emulsions were analyzed. The results indicated that one emulsion was a W/O type emulsion, while the other was an O/W type. Finally, adaptability of the two emulsions to ice storage was discussed, it was concluded that a high performance ice slurry could be formed by the W/O type emulsion.