The autoxidation of purified phosphatidyl ethanolamine (PE) and phosphatidyl choline (PC), extracted from egg and soybean lipids, was followed by oxygen uptake measurements in emulsified systems. All emulsified phospholipid fractions had comparable activation energies. Measurement by various physico‐chemical tests was made of specific changes in the phospholipid molecule during autoxidation. PE oxidized more rapidly and absorbed more oxygen than PC. Higher 2‐thiobarbituric acid test and diene and triene conjugation absorbance values were observed for PE than for PC. Of the two major polyunsaturated fatty acids in egg phospholipids, arachidonic acid disappeared at a more rapid rate during oxidation while the concentration of linoleic acid decreased to a level that was relatively constant. Although typical unsaturated fatty acid oxidation appeared to occur in all phospholipid fractions, oxidation in aqueous emulsions was only partly a function of fatty acid composition. The nitrogen moieties, ethanolamine and choline influenced the induction period for the oxidation of PE and PC respectively.