ABSTRACT The use of Maillard reaction products for encapsulation of fish oil was investigated. Fish oil was emulsified with heated aqueous mixtures comprising a protein source (Na caseinate, whey protein isolate, soy protein isolate, or skim milk powder) and carbohydrates (glucose, dried glucose syrup, oligosaccharide) and spray‐dried for the production of 50% oil powders. The extent of the Maillard reaction was monitored using L *, a *, b * values and absorbance at 465 nm. Encapsulation efficiency was gauged by measurement of solvent‐extractable fat and the oxidative stability of the fish oil powder, which was determined by assessment of headspace propanal after storage of powders at 35 °C for 4 wk. Increasing the heat treatment (60 °C to 100 °C for 30 to 90 min) of sodium caseinate‐glucose‐glucose syrup mixtures increased Maillard browning but did not change their encapsulation efficiency. The encapsulation efficiency of all heated sodium caseinate‐glucose‐glucose syrup mixtures was high, as indicated by the low solvent‐extractable fat in powder (<2% powder, w/w). However, increasing the severity of the heat treatment of the sodium caseinate‐glucose‐glucose syrup mixtures reduced the susceptibility of the fish oil powder to oxidation. The increased protection afforded to fish oil in powders by increasing the temperature‐time treatment of protein‐carbohydrate mixtures before emulsification and drying was observed irrespective of the protein (sodium caseinate, whey protein isolate, soy protein isolate, or skim milk powder) and carbohydrate (glucose, glucose/dried glucose syrup, or oligosaccharide/dried glucose syrup) sources used in the formulation. Maillard reaction products produced by heat treatment of aqueous protein‐carbohydrate mixtures were effective for protecting microencapsulated fish oil and other oils (evening primrose oil, milk fat) from oxidation.