The emulsified diesel fuel, which could be stably stored at room temperature, was prepared by homogenizer and mechanical stirring. The mass ratios of diesel, water and additives were determined. The fuel consumption on different working conditions of emulsified diesel were tested on engine test bench, and the oil-saving rates were determined. The physicochemical properties of the emulsified diesel fuel were measured and comparatively analyzed. The emulsified diesel were prepared when the additive content was 2 wt %, water blending ratio were 10 wt % and 15 wt %, respectively. The results showed that the oil-saving rates of emulsified diesel were different on various working conditions, and the highest oil-saving rate was 6% . The physical and chemical indexes of emulsified diesel fuel conformed to the national standard, and the emulsified diesel seemed clear and transparent, the stable period was more than one month.