The present study aimed to formulate and subsequently evaluate a topical skin-care cream (o/w emulsion) from l-ascorbic acid and its derivatives (sodium ascorbyl phosphate and magnesium ascorbyl phosphate) at 2% versus its vehicle (Control). Formulations were developed by entrapping it in the oily phase of o/w emulsion and were stored at 8°C, 25°C and 40°C (in incubator) for a period of four weeks to investigate their stability. In the physical analysis, the evaluation parameters consisted of color, smell, phase separation, centrifugation, and liquefaction. Chemical stability of both derivatives was established by HPLC analysis. In the chemical analysis, the formulation with sodium ascorbyl phosphate was more stable than those with magnesium ascorbyl phosphate and l-ascorbic acid. The microbiological stability of the formulations was also evaluated. The findings indicated that the formulations with l-ascorbic acid and its derivatives were efficient against the proliferation of various spoilage microorganisms, including aerobic plate counts as well as Pseudomonas aeruginosa, Staphylococcus aureus, and yeast and mold counts. The results presented in this work showed good stability throughout the experimental period. Newly formulated emulsion proved to exhibit a number of promising properties and attributes that might open new opportunities for the construction of more efficient, safe, and cost-effective skin-care, cosmetic, and pharmaceutical products.