Many researchers are currently developing emulsion-based delivery systems to increase the bioavailability of lipophilic bioactive agents, such as oil-soluble vitamins, nutraceuticals, and lipids. Oil-in-water emulsions can be specifically designed to improve the bioavailability of these bioactives by altering their composition and structural organization. This article reviews recent progress in understanding the impact of emulsion properties on the bioaccessibility of lipophilic bioactive agents, including oil phase composition, aqueous phase composition, droplet size, emulsifier type, lipid physical state, and droplet aggregation state. This knowledge can be used to design emulsions that can enhance the bioavailability and efficacy of encapsulated hydrophobic bioactives.