Microcrystalline silicon embedded in silicon oxide has been prepared by means of a wet oxidation of porous silicon (PS) anodically produced from degenerate Si wafers in a HF solution. As the oxidation proceeded, optical absorptions of the PS specimen in the visible light region shifted obviously to the higher energy side. Visible light emission from the oxidized specimen was observed at room temperature with photoexcitation by a He-Cd laser while the as-prepared specimen emitted no visible lights. These results are discussed in relation to the quantum size effect of the microcrystalline silicon confined in the oxide matrix as well as visible emissions from as-prepared specimens produced from non-degenerate Si wafers.