Froth flotation stands as the preferred technique for the separation of charcoal and ash from coal gasification fine slag (CGFS). However, the presence of a well-developed pore structure and an abundance of oxygen-containing functional groups on the surface of residual charcoal necessitates the use of substantial dosage of collectors during the flotation of CGFS. To address this, a high internal phase water-in-oil (HIP W/O) emulsion, with an internal phase water volume fraction of 85 %, was formulated for the flotation decarburization of CGFS, with the objective of reducing the collector dosage. The outcomes of flotation tests demonstrated that at dosages of 50 kg/t for kerosene and 15.04 kg/t for the organic liquid of the HIP W/O emulsion, both were capable of yielding tailings with an ash content exceeding 95 %. The results from Cryo-SEM and viscosity tests suggest that the high viscosity characteristics of the HIP W/O emulsion are primarily attributed to the compact arrangement of emulsion droplets and the active influence of emulsifiers at the oil–water interface. High-speed camera observations revealed that the HIP W/O emulsion droplets exhibited a tendency to disperse into bar-shaped flocs with larger particle sizes in water. This particular dispersion morphology is advantageous for enhancing the oil agglomeration flotation mechanism within the flotation decarburization process of CGFS. LF-NMR tests have further substantiated that the emulsion droplets are not readily absorbed by the microporous structure of the residual charcoal within the CGFS. Wettability tests and FTIR analyses have demonstrated that the hydrophobic modification of the residual charcoal surface, achieved through the HIP W/O emulsion, markedly surpasses that of conventional kerosene. The combination of these results indicates that the use of HIP W/O emulsion in the flotation decarbonization process of CGFS offers multiple benefits. It not only significantly reduces the dosage of organic collectors required, but also enhances the economic efficiency and effectiveness of the flotation process, presenting a novel reagent option for the decarbonization of CGFS.