Anchovy oil was successfully encapsulated into multi-core microcapsule powder using a two-step microencapsulation method. The inner and outer shells of the microcapsules were created separately using gelatin-SHMP complex coacervates as shell materials. Fucoidan extract was used to crosslink these complex coacervates shells of microcapsules before spray drying. The spray dried microcapsules produced using the two-step method exhibited high encapsulation efficiency (99.83%), low surface oil content (0.10%), high oil payload (55.68%) and significantly improved oxidative stability. The formation of the outer shell during the second cooling step of two-step microencapsulation method significantly improved the oxidative stability of the anchovy oil by smoothing the surface of the microcapsules. (C) 2018 Elsevier B.V. All rights reserved.