In　order　to　improve　the　stability　of　Monascus　pigments　(MPs),　gelatin　and　Arabic　gum　were　used　as　wall　materials,　supplemented　with　transglutaminase　(TGase)　and　hydroxypropyl-β-cyclodextrin,　to　prepare　MP　microcapsules　by　composite　coagulation.　Based　on　zeta　potential　and　turbidity,　the　optimal　gelatin-Arabic　gum　ratio　and　pH　were　determined　to　be　1:1　and　4.0,　respectively.　Furthermore,　using　response　surface　methodology,　the　optimal　process　conditions　that　provide　maximum　microencapsulation　efficiency　(85.06%)　were　established　as　follows:　wall　material　concentration　of　1.5%,　core-to-wall　ratio　of　2.89:1,　and　coacervation　time　of　42　min.　The　solubility,　storage　stability,　photostability　and　in　vitro　release　characteristics　of　the　microcapsules　were　characterized.　The　results　showed　that　the　microcapsules　significantly　improved　the　water　solubility　and　storage　stability　of　MPs　and　were　the　most　stable　under　low　temperature　and　room　temperature　conditions.　The　photodegradation　processes　of　free　and　microencapsulated　Monascus　red　and　orange　pigments　followed　the　first-order　kinetic　model,　while　the　photodegradation　process　of　free　and　microencapsulated　Monascus　yellow　pigments　obeyed　the　zero-level　kinetic　model.　Microencapsulation　significantly　improved　the　photostability　of　MPs.　In　addition,　the　microcapsules　had　good　slow-release　performance　in　simulated　gastric　fluid,　and　the　release　rate　was　significantly　lower　than　in　simulated　intestinal　fluid,　indicating　that　the　microcapsule　system　could　well　control　the　release　of　MPs　in　simulated　gastrointestinal　fluid.　©　2024　Chinese　Chamber　of　Commerce.　All　rights　reserved.