Abstract: The retention rate of anthocyanin in aqueous phase system was evaluated with anthocyanin microcapsules of Lycium ruthenicum Murr, the effects of environmental factors such as temperature, cyclic freezing and thawing, light and uv on the stability of anthocyanidins in Lycium ruthenicum Murr were investigated. The oxidative degradation of anthocyanins was further studied. The stability and targeting release characteristics of anthocyanin microcapsules were studied by in vitro simulated gastrointestinal solution. And the results showed it was first order reaction kinetics model. The low temperature and low pH were better for the stability of microencapsulated anthocyanins, light could reduce the stability of anthocyanins. In vitro simulation of gastrointestinal fluid stability test, anthocyanin microcapsules were stable in simulated gastric fluid than in the intestinal fluid, the retention rates of anthocyanin microcapsules in simulated gastric fluid were increased by 14.8% and 17.3% in simulated intestinal fluid, compared with the unencapsulated anthocyanin solution. In vitro simulated gastrointestinal fluid targeted release test, Anthocyanin release rate was 7.5% and 20.7% in anthocyanin microcapsule solution and anthocyanin solution after 90 min in the simulated gastric fluid. Anthocyanins were released slowly in simulated intestinal fluid, release rate were 21.9% and 27.2% respectively after 240 min. Moreover, anthocyanin microcapsules could improve significantly their stability in aqueous phase systems and play a slow-release effect in the gastrointestinal fluid.