The present study deals with preparation of emulsion liquid membrane (ELM) in hydrodynamic cavitation system using organic phase containing Aliquat 336 carrier, diluents i.e., kerosene and Span 80 surfactant and stripping phase (0.1 M NaOH solution). Further experimental investigation on extraction/removal of Pb (II) from feed solution containing Pb (II) was conducted with the use of hydrodynamic cavitationally prepared ELM. Influence of the several process parameters like carrier concentration, surfactant concentration, strength of stripping solution, cavitation time and size of orifice during preparation of ELM phase and ELM to feed water ratio on extraction/removal of Pb (II) from feed solution was investigated during experimental runs. Almost 100% removal/extraction efficiency Pb (II) from feed solution was observed with the use hydrodynamically prepared ELM for the optimized condition of 2 mm orifice diameter, 1:05 ELM to feed water ratio, 0.1 M NaOH strength of stripping solution, 3% (v/v) Span 80 surfactant concentration, and 1% (v/v) carrier concentration. Further, artificial neural network (ANN) modeling was used for the prediction of % extraction efficiency of Pb (II) from feed solution. Hence, the use of hydrodynamic cavitation-based novel process for synthesizing ELM having outstanding stability is possible for removal/extraction of Pb (II) from aqueous feed phase.