Homogenization is the main technology used to produce emulsions, through mixing oil and aqueous phases, in the presence of a suitable emulsifier, or through the reduction in droplet size of an existing (pre‐) emulsion. While traditional forms of homogenization have been applied in the dairy industry for over 100 years, this chapter reviews some recent developments in technologies for homogenization of dairy products, specifically those generally referred to as high‐pressure homogenization and microfluidization (which operate at pressures from 100 to 300MPa), and discusses their likely applications and implications for dairy products. Emulsions may destabilize via a number of different mechanisms, including creaming, sedimentation and flocculation. Because high‐pressure homogenization (HPH) can inactivate bacteria in milk, it has been suggested that the process can act as a one‐step alternative for the pasteurization and homogenization of milk.