This study investigates the characteristics of chickpea protein-stabilized Pickering emulsion transformed into a mayonnaise-like product, and examines the effects of altering the oil phase (65–73%) and high-pressure homogenization (0–300 Bar) on its appearance, rheological properties, thixotropy, particle size distribution, and freeze-thaw stability. The results reveal that with an increase in oil phase content or homogenization pressure, the chickpea protein emulsion undergoes a transition from an unstable to a densely packed state, exhibiting gel-like behavior with a significant rise in viscoelasticity and a gradual reduction in particle size. Augmenting the oil phase leads to a decrease in protein chain length and oil droplet size. Within the experimental range, when the chickpea protein content is 5%, and the oil phase is 69%, or when the oil phase is 65% with a homogenization pressure of 40 Bar, the emulsion demonstrates an optimal appearance and rheological properties closely resembling commercial mayonnaise products. This achievement represents a significant milestone in formulating emulsions that closely mimic the characteristics of prevalent mayonnaise products in the market.