The rheological properties of a new type of colloidal dispersion based on nanoparticles of gelled oil have been characterized. The nanoparticles (mean diameter approximately 250 nm) were viscoelastic droplets of dicaprylyl ether gelled by 12-hydroxystearic acid (HSA) and were stabilized in aqueous solutions by cetyltrimethylammonium bromide. The effects of the volume fraction of the dispersed organogel phase and of the organogelator concentration upon viscoelasticity of the dispersion were investigated and compared to the corresponding emulsion (without HSA). The shear viscosity of the dispersions of organogel droplets and the elastic and viscous moduli (G' and G'') were found to increase when the proportion of organogelator was increased. More surprisingly, the shear-thinning behavior was also more pronounced. The rheological behavior of the dispersions could be explained by strong interactions between some gelled particles. This hypothesis was supported by electron microscopy observations showing some particles bridged together by ribbons of HSA fibers.