Pomegranate is a medicinal food， and a large amount of pomegranate peel and other by-products are produced during processing. In order to improve the utilization of pomegranate by-products， the active ingredients of pomegranate peel were extracted by different methods and their antioxidant activities were investigated in this paper. Subsequently， these bioactives were steadily encapsulated by water-in-oil-in-water emulsion (W/O/W) emulsion and the effect of W/O/W on the stability and bioavailability of polyphenols was investigated. The results showed that the ultrasound-assisted alcoholic extraction obtained higher yield of polyphenols with 25% than the ultra-high pressure extraction and enzymatic assisted extraction. The DPPH， hydroxyl radical scavenging and total reducing power of bioactives extracted from pomegranate peel was better than VC. While the ABTS+ scavenging activity of the bioactives was not significantly different from that of VC. And its scavenging activity of superoxide anion was higher than that of VC when its concentration was lower than 0.4 mg/mL. W/O/W emulsion could improve the storage stability of the bioactive extracted from pomegranate peel， and protect the active substances in gastric digestion to targeted delivery and release in the simulated small intestine. This study provides theoretical reference for the further processing of pomegranate peel by-products.