Printing inks are basically dispersions of solid pigment particles in a vehicle. Pigment flocculation and/or colloidal aggregates created by thixotrope additives form a three- dimensional network in the inks. This structure complicates the flow behaviour of inks. However, if the internal structure is formed under control, the printing process will benefit from it because the ink must satify rheological requirements over a very wide range of shear conditions. The presence of internal structure results in the following prominent non-Newtonian rheological properties: viscoelasticity, yield stress, shear thinning and thixotropy. If the components of printing inks were changed, the rheological characteristics such as viscosity, yield stress, viscoelasticity and tack value were considerably varied. Thus, in this paper, the effects of changing the content of rosin modified phenolic resin on rheological properties of the vehicle will be studied. For that, the rheological properties were found by flow, yield stress, creep and oscillation measurements using Bohlin C-VOR Rotational Rheometer. And Emulsion rheology and its microstructure will be investigated.