Exfoliated graphene oxide (GO) sheets with hydrophilic functional groups on the surface were prepared by the oxidation of graphite. Because of the hydrophilic groups on the sheets and the hydrophobic carbon surface, GO sheets were located at the oil-water interface and could be used as a stabilizer in Pickering emulsions. After the Pickering emulsion polymerization of styrene, PS colloidal particles with GO sheets on the surface were prepared. The size of the GO sheets exerts an important influence on the preparation of PS colloidal particles. Small GO sheets located at the liquid-liquid interface and GO-stabilized PS colloidal particles were prepared; however, for large GO sheets, smaller PS colloidal particles prepared on the GO surface were observed. Transmission electron microscopy (TEM), scanning electron microscopy (SEM), and X-ray photoelectron spectroscopy (XPS) were used to characterize the structure and morphology of the colloidal particles. TEM, SEM, and XPS results all suggest the successful preparation of GO-stabilized PS colloidal particles.