The aim of this work relates to the optimization of a cold formulation of a depilatory emulsion containing thioglycolate of calcium, which presents the same characteristics as a reference product. To lead to this objective, a cubic simplex method was used. A preliminary formulation was preformed to evaluate the influence of each factor on the process formulation. The depilatory creams carried out present a rheological behaviour described by the model of Hershell-Bulkely, whose parameters are considered as responses of the optimizing system. This strategy allows both reducing and optimizing the number of experiments. The rheological measurements and the tests of stability showed that the use of an emulsifying polymer led to obtain a stable depilatory cream with a good effectiveness at a strong pH value.