Epoxidized natural rubber (ENR) was prepared via in situ epoxidation from high ammonia concentrated natural rubber latex with formic acid and hydrogen peroxide in the presence of a surfactant at 50°C for 4, 8, and 12 h. The obtained ENRs containing 20, 45, and 65 mol % of expoxide groups were denoted ENR20, ENR45, and ENR65, respectively. The differential scanning calorimetric study revealed that they exhibited higher glass transition temperatures than that of natural rubber (Ϫ62.4°C), at Ϫ38.2°C for ENR20, Ϫ27.8°C for ENR45, and Ϫ19.7°C for ENR 65. It was clearly seen that their glass transition temperatures increased as the amount of epoxide groups increased. The prepared ENRs were compounded and vulcanized to prepare test specimens for determination of oil resistance and various physical properties. It was found that the swelling of ENRs in oils was substantially less than that of natural rubber. The oil resistance of ENR65 was comparable to that of nitrile rubber, commonly used as oil resistant rubber. ENR65 also showed higher hardness than other ENRs. Contrarily, ENR20 possessed superior tensile strength and compression set when compared with other ENRs.