Microencapsulation is a well-known technology for the lipid delivery system. It prevents the oxidation of fatty acids and maintains the quality of lipid after extraction from oil seed and processing. In flaxseed oil, the amount of ω-3 and ω-6 polyunsaturated fatty acids are 39.90−60.42% and 12.25−17.44%, respectively. A comprehensive review article on the microencapsulation of flaxseed oil has not been published yet. Realizing the great advantages of flaxseed oil, information about different technologies related to the microencapsulation of flaxseed oil and their characteristics are discussed in a comprehensive way, in this review article. To prepare the microcapsule of flaxseed oil, an emulsion of oil-water is performed along with a wall material (matrix), followed by drying with a spray-dryer or freeze-dryer. Different matrices, such as plant and animal-based proteins, maltodextrin, gum Arabic, and modified starch are used for the encapsulation of flaxseed oil. In some cases, emulsifiers, such as Tween 80 and soya lecithin are used to prepare flaxseed oil microcapsules. Physico-chemical and bio-chemical characteristics of flaxseed oil microcapsules depend on process parameters, ratio of oil and matrix, and characteristics of the matrix. As an example, the size of the microcapsule, prepared with spray-drying and freeze-drying ranges between 10−400 and 20−5000 μm, respectively. It may be considered that the comprehensive information on the encapsulation of flaxseed oil will boost the development of functional foods and biopharmaceuticals.