In order to prepared a green emulsifier product. Dodecenyl succinic acid cyclodextrin ester (DDS-β-CD) was successfully prepared from dodecenly succinic anhydride (DDSA) and β-cyclodextrin (β-CD) by wet process. The structure of DDS-β-CD was confirmed by fourier transform infrared spectroscopy (FT-IR). Thermogravimetric analysis (TGA) showed that the thermal stability of DDS-β-CD was lower than that of β-CD. However, the initial decomposition temperature was still as high as 225 ℃, which can meet its application in food, daily chemical and microcapsules. When the degree of substitution of DDS-β-CD was greater than 0.198, the transmittance of the sample with 6% mass fraction aqueous solution could still reach more than 97%. The hydrophile lipophilic balance (HLB) of DDS-β-CD with substitution degree of 0.295 was 16.520, indicating that it had foaming ability and emulsifying ability. The foam stability was better than 79.08%. The emulsifying properties for vegetable oil and liquid paraffin were 991 s and 545 s, respectively. When the DDS-β-CD mass fraction was 0.5%, the initial average particle size of the vegetable oil-in-water emulsion was 4.42 μm, and the emulsion had good stability.