Amixture ofwater (10 mMKCI), toluene and TritonX-100 (40:40:20wt %) shows temperature-dependent phase inversion. The phase inversion has been studied by dielectric spectroscopy over a frequency range of 10 Hz to 1 GHz. At temperatures above about 37 degrees C, dielectric relaxation appeared around 10 MHz, which was due to interfacial polarization in a water-in-oil type emulsion. The dielectric relaxation drastically changed between 30 and 25 degrees C. With decreasing temperature, the intensity of dielectric relaxation increased steeply below 30 degrees C to attain a peak at 27 degrees C, where that change was associated with an increase in low-frequency conductivity by about three orders between 30 and 26 degrees C. The dielectric behavior has been interpreted in terms of interfacial polarization with a percolation model in which spherical water droplets, arranged in array in a continuous oil phase, are randomly connected with their nearest neighbors using water bonds.