The occurrence of Maillard reaction in protein – polysaccharide coacervated microcapsules and its effects on microcapsule properties were investigated. Vitamin E microcapsules were prepared by soybean protein isolate – chitosan coacervation at 50 °C, 70 °C, or 90 °C for 12 h in the presence of maltose. Chromatic and furosine measurements revealed that Maillard reaction occurred in the microcapsules and was favored by high incubation temperatures. The three coacervation temperatures did not destroy the microcapsule structure, but improved the microencapsulation efficiency and microencapsulation yield instead. The microcapsules exhibited decreased aggregation and the increased absolute zeta potential and particle size were believed contribute to this improvement. Stability analysis demonstrated that the microcapsules possessed enhanced resistance to dissolution in water and improved storage stability than control microcapsules. It is concluded that coacervation at a temperature high enough to initiate Maillard reaction is a promising way to improve the physiochemical properties of protein – polysaccharide coacervated microcapsules.