This study investigates the influence of the type of lipid phase (corn oil [CO], palm oil [PO], MCT oil [MO], lemon oil [LO]) on the physical characteristics and bioactive peptide (BP) encapsulation in food-grade water-in-oil-in-water (W/O/W) double emulsions. The stabilities of the double emulsions were analyzed for droplet size characteristics, viscosity, dynamic rheological properties, encapsulation efficiency (EE), and release rate of BP (at different temperatures: 4, 25, 37, and 60oC) for 28 days. The encapsulated BP acts as an active substance in the osmotic balance and destabilization of the double emulsion system. For the effect of the oil phase, double emulsions prepared with PO showed the best droplet stability without phase separation (D50 < 1 m) and high BP retention (EE > 60%). In the release rate at high temperatures (60oC), the BP released from double emulsions was in the order of MO > CO > LO > PO over time. In contrast, the BP release from double emulsions at low temperatures (< 37oC) had no difference depending on the oil type. Therefore, the information obtained from this work is useful for preparing stable, functional food or cosmetic products from double emulsions using a BP.