Combustion characteristic, concentration of NOx and exhaust smoke opacity was experimentally tested, according to fuel injection timing, mixing ratio of water and methanol for the driving condition of 2000 rpm of engine revolution and constant load(7.5kg/cm$^{2}$) using emulsified fuel of gas oil-water methanol. The result obtained was as following. Thermal efficiency indicated highly 0.4-2.7% for emulsified fuel then gas oil, and injection timing when maximum thermal efficiency, slicily risen then gas oil. For constant fuel injection timing ignition lag was increased, combustion duration decreased, maximum heat release rate indicated high, and concentration of NOx and exhaust smoke opacity is decreased, as function of water and methanol content y was higher.