INTRODUCTIONCyclic polymers have been drawing increasing attention because they differ from their linear or branched counterparts in the absence of chain ends and because their unique topologies are expected to reveal unprecedented properties and functions. 1 In particular, cyclic block copolymers composed of hydrophobic-hydrophilic segments, as well as their linear counterparts, tend to produce self-assemblies such as micelles in aqueous media. 2 In such self-assembly states, the distinction between a single linear molecule and a cyclic molecule could be amplified, even if they share the relevant chain lengths and chemical compositions. 1 Indeed, we have recently shown that a micelle formed by cyclic block copolymer amphiphiles, that is, a series of poly(alkyl acrylate)-bpoly(ethylene oxide)s, exhibits significantly improved thermal and salt stabilities in comparison with the corresponding micelles formed by the linear counterpart. 3,4 Furthermore, the micelle stability can be modulated using the blend of cyclic and linear polymer surfactants with various compositions. The relevant amphiphilic cyclic and multicyclic block copolymers have been studied by others as well, and unique topology effects have been demonstrated for their selfassemblies in aqueous medium or at the interfaces. [5][6][7][8][9] To gain further insights in the topology effect of the linear and cyclized polymer amphiphiles, we examined the emulsion formation and subsequent phase-separation of water/toluene mixtures. Emulsion stabilization using polymer surfactants is critical in diverse applications such as coating formation, pharmaceutics/cosmetic formulation, food processing, detergent preparation and dyes/pigment production. 10 Hence, a class of cyclic polymer surfactants can be applied as a potentially attractive emulsion modifier because both cyclic and linear polymer surfactants are chemically identical and considered inherently compatible with each other.In the present work, we used a block copolymer surfactant composed of polystyrene (PS) and poly(ethylene oxide) (PEO) as hydrophobic and hydrophilic segment components, respectively, because a variety of linear PS-PEO block copolymers have been