Ossein gelatin (OG) and low-molecular-weight ossein gelatin (LOG) were conjugated with a glucose/fructose stearic acid monoester (GE/FE), which had been prepared from the hydrolysate of a sucrose stearic acid diester, by the Maillard reaction to improve their physical properties. The molar ratio of each conjugate (GE/FE-OG or GE/FE-LOG) was about 1:1, and the conjugation resulted in a decreased isoelectric point. The GE/FE-OG gel showed a lower storage modulus, melting temperature, and enthalpy change than those for the OG gel at both the early and late stages of gelation, and each gel at pH 3.0 showed somewhat lower characteristics than those at pH 7.0. The conjugates acquired superior emulsifying ability, GE/FE-LOG in particular exhibiting markedly higher emulsifying ability in the acidic pH range, in the presence of NaCl, and over a wide temperature range. It is thus expected that conjugation with GE/FE could be effective for providing a new type of gelatin with a soft texture, easy melting, and emulsifying ability.