The work aims to prepare Chitosan/AKD emulsion to replace the traditional AKD emulsion and use it as a non-toxic water- and oil-proof agent to improve the water and oil resistance of pulp molded products. Chitosan was used as an emulsifier, blended with AKD wax under high shear emulsification. The process parameters of stable and uniform chitosan/AKD emulsion were studied, and pulp molded products were prepared by internal sizing. The mechanical strength, as well as the water and oil resistance of finished products were investigated. When using a chitosan acetic acid solution with a chitosan concentration of 1.5 wt%, a milky white chitosan/AKD emulsion with a AKD concentration of 5 wt% was obtained. The addition of chitosan/AKD emulsion did not affect the water drainage performance of the pulp fibers. When the dosage of chitosan/AKD emulsion accounted for 7 wt% of the absolute dry pulp, the beating degree and water retention value of the pulp suspension were respectively 23 °SR and (1.71±0.06) g/g, meeting the production requirements of pulp molded products. Compared with the control sample without chitosan/AKD emulsion, when the addition amount was 7 wt%, the mechanical properties of pulp molded products include tightness, tensile strength, bursting index and tear strength increased by 26.2%, 60.6%, 152.6% and 67.1% respectively. The Cobb60 value and static water contact angle reflecting waterproof performance were reduced or increased to (18.5±0.68) g/m2 and (119±4.1)°. The Kit value reflecting the oil-proof performance was increased to level 8, and the oil contact angle was increased to (97.9±3.1)°. It also has excellent resistance to hot water and hot oil. In conclusion, chitosan/AKD emulsion can be used as a new water- and oil-proof additive in production of pulp molded products, expanding the category of environmentally friendly and degradable paper-making additives.