The use of double (w1/o/w2) emulsions, in which part of the oil is replaced by small water droplets, is a promising strategy to reduce oil content in food products. For successful applications, (1) significant levels of fat reduction (i.e. significant amounts of water inside the oil droplets) have to be achieved, (2) double emulsions have to be stable against conditions encountered during processing and storage, and (3) the mouthfeel and sensory perception have to be similar to that of full-fat equivalents. With the present work, significant progress was made in understanding the complex relations between double emulsion design, achievable levels of fat reduction, emulsion stability and sensory perception. We show that through careful emulsion design, stable double emulsions with high levels of fat reduction (up to 50%) can be obtained while maintaining fat-related sensory properties, making double emulsions a promising approach for the development of fat-reduced food products.