A wax emulsion comprised of polyethylene wax and one or more surfactants in an aqueous medium, wherein the polyethylene wax has a degree of crystallinity of from about 50% to about 80% by weight of the polyethylene wax, is provided. The wax emulsion is made by emulsifying the polyethylene wax, one or more surfactants and an aqueous medium in a vessel at a temperature at or above the melting point of the polyethylene wax to form an emulsified product, and subsequently cooling the emulsified product to ambient temperature at a cooling rate of at least 10.degree. C. per minute. The wax emulsion is preferably incorporated into toner particles prepared by emulsion/aggregation/coalescing.