Antimicrobial polyethylene wax (PEW) emulsions, prepared by emulsifying polyethylene wax grafted with polyhexamethylene guanidine hydrochloride (PEW-g-PHGH), were used as wet-end additives or coating materials for fabricating hydrophobic and anti-mold hand-sheets or paper. To obtain PEW-g-PHGH, maleic anhydride (MAH) was adopted as a bridging agent. The melt or solution grafting of MAH to PEW was performed to achieve the appropriate grafting degree and grafting efficiency. The resulting PEW-g-PHGH was emulsified using a homogenizer by means of surfactants, and the resulted emulsions were characterized in terms of particle size, zeta potential, charge density, minimal inhibitory concentration (MIC), and adsorption capacity. After that the hydrophobicity of emulsion treated hand-sheets was determined by measuring water contact angle (WCA). The morphology of the handsheets treated by the emulsion was revealed using scanning electron microscope (SEM) and atom force microscope (AFM). Finally, the antimicrobial properties of the emulsion treated hand-sheets were investigated by anti-mold tests against Aspergillus niger and Chaetomium globosum. Results indicated that the PEW-g-PHGH emulsions exhibited good stability, high fiber adsorption capacity, and antimicrobial activity. The WCAs of the treated hand-sheets reached 82 -140 with 80%$99.9% growth inhibition against fungi.