The synthesis of polybutadiene (PB) by emulsion polymerization with use of poly(vinyl pyrrolidone) (PVP) stabilizer was investigated. The goal was to prepare flexible latex films that clearly retain particle morphology in the solid state after heat treatment and contain no ionic, hydroxyl, or (primary, secondary) amino groups. The latex particle core composed of PB was nonpolar and rubbery, while the particle shell composed of PVP was polar and glassy. Average particle diameter was measured by the dynamic light scattering technique, and particles were imaged by scanning and transmission electron microscopic analyses. Dialysis of the latices resulted in successful exchange of the dispersion medium without precipitation.