The rheological behavior of micellar cubic phases in C12EO25 systems and related emulsions has been investigated. In the aqueous C12EO25 binary system, the transition from the cubic phase to the micellar solution is associated with a sudden drop in viscosity and with a small enthalpy of transition. The elastic modulus and viscosity of the cubic phases show a maximum with concentration but remain very high within the range of existence of the cubic phase. Several relaxation processes seem to be present in binary cubic phases, and some of them occur in a time scale that can be followed by both rheology and dynamic light scattering measurements. Upon addition of a small amount of oil (decane), the rheological behavior changes remarkably. As the oil fraction increases, the relaxation times also increase and, finally, highly concentrated, gel-like emulsions are obtained. Contrary to conventional concentrated emulsions, the viscosity of cubic-phase-based emulsions is decreased by increasing the fraction of the dispersed phase. The non-Maxwellian rheological behavior at low oil fractions is described according to the model of slipping crystalline planes, modified by using a distribution of bulk relaxation times, and good fitting to the experimental data is obtained.