In this research, microcapsules containing Chinese yak butter (MYB) were prepared by spray drying technique using rice syrup/whey protein isolate/sodium caseinate as wall materials. The physiochemical properties, nutritional value, stability and in vitro digestion behaviour of MYB were analysed. The results indicated that MYB were round-shaped particles with good flow properties, high microencapsulation efficiency (97.4%) and prolonged shelf life. After rehydration, the reconstituted emulsion was found to be uniform and stable. Results also suggested yak butter (YB) with more kinds of fatty acids and a ω-3/ω-6 ratio higher than 0.33 was more nutritional for human consumption than commercial milk powder, and spray drying process had nearly no side effects on nutritional value of YB. In addition, the comparative analysis of leakage behaviour after exposure to different simulated gastrointestinal tract fluids indicated that YB could be efficiently leaked out of MYB except a ratio bound to wall materials.