Evidence that dietary lycopene decreases the risk for a number of health conditions has generated new opportunities for the addition of lycopene to functional foods. This work examined the potential of oil-in-water emulsions as a lycopene delivery system for foods. Oil-in-water emulsions containing lycopene were prepared using different kinds of surfactant (cationic, anionic, and nonionic) and oil types (corn oil, stripped corn oil, and hexadecane). The formation of fatty acid oxidation products and the degradation of lycopene and tocopherol were then monitored. Fatty acids and lycopene had greater stability in oil-in-water emulsions stabilized by cationic dodecyltrimethylammonium bromide (DTAB) or nonionic polyoxyethylene (23) lauryl ether than by anionic sodium dodecyl sulfate (SDS). Oxidative stability in the corn oil-in-water emulsions stabilized by SDS was in the following order: tocopherol < lycopene < fatty acids. When emulsions were prepared using different carrier oils, the lycopene stability was in the following order: nonstripped corn oil > hexadecane > tocopherol-stripped corn oil. Lycopene degradation rates were similar in emulsions with and without fatty acids, suggesting that lycopene loss was independent of the presence of fatty acids. These results suggest that the stability of lycopene in oil-in-water emulsions could be inhibited by altering the emulsion droplet interface and by the presence of tocopherols.