Polybutadiene rubber was used for stabilization of the emulsion for removal of phenol from aqueous solution via emulsion liquid membrane technique. The results showed that the addition of the polymer increased the stability of the emulsion, considerably. The effect of various parameters such as polymer concentration, temperature, mixing intensity, internal phase concentration, phases ratio, and pH of feed phase was studied. It was found that by increasing the volume ratio of emulsion to feed, internal phase concentration, and decreasing pH, the extraction efficiency was increased. Under optimum conditions, an extraction efficiency of 92% was obtained within only 35 minutes.