Crude commercial soybean lecithin from two different sources named (A) and (C) were modified physically, chemically, and enzymatically using phospholipase A2 enzyme (PLA2) in order to improve their emulsification properties. All the modified lecithin fractions were used in the preparation of oil-in-water (O/W) emulsions, in comparison with the crude lecithins as well as a standard acetone-insoluble lecithin purchased from the market. The emulsions stabilized by acetone-insoluble fractions showed the best physical stability during 3 months of storage after preparation, along with a relatively low particle size (PS) and polydispersity index (PDI) and a zeta-potential values that indicates a good emulsion stability. Hydroxylated lecithin (H2A and H2C) showed the most stable Zeta-potential (-55.3 and -50.8 mV) respectively with a relatively low particle size and poly-dispersity index of 284.0 nm and 0.378 respectively for A and 268.4 nm and 0.391 for C, while hydrolyzed lecithin (ENZ A and ENZ C) that possessed the lowest particle size had a moderate zeta-potential of -34.8 and -32.2 for A and C respectively. These results showed that the modification of crude lecithin is essential for the production of tailor-made products with specific surface-active properties-stabilizing emulsions to be used in different purposes.