A new emulsionfor aluminum strip was prepared by using the compound emulsifier to form a stable emulsion system, in order to reduce oil consumption, improve rolled surface quality and ensure the service life. An efficient extreme pressure agent was mixed with the new emulsion to make up for the lack of lubrication performances of a stable emulsion. The effect on the rolling force and final rolling thickness by the new emulsions for aluminum hot rolling was studied by lubrication experiments to simulate continuous rolling with single stand and multipass rolling. The stability and wettability of the new emulsion was also observed. Compared with the traditional commercial emulsion, the new emulsion decreases the rolling force by 52%-169%, and the rolling thickness by 48%-106%. The new emulsion shows good stability, heat decomposability and wettability, which can improve the rolled surface quality.