Tamarind seed polysaccharide (TSP) obtained from the seed kernel of Tamarindus indica, possesses properties like high viscosity, broad pH tolerance, noncarcinogenicity, mucoadhesive nature, and biocompatibility. It is used as stabilizer, thickener, gelling agent, and binder in food and pharmaceutical industries. The objective of present investigation was to search for a cheap and effective natural excipient that can be used as an effective alternative for the formulation of pharmaceutical emulsions. For emulsifying activity study, castor oil was taken as a model drug and emulsified with TSP. The comparative stability studies were done with that of the emulsion prepared by taking gum acacia as standard emulsifying agent and it was found that the emulsion prepared with 2%w/v of TSP is more effective in comparison to that of the emulsion prepared by using 10%w/v of gum acacia. Thus this mucilage will be a non-toxic, bio-degradable, cheap, economic and easily available option as an emulsifier.