There has been strong interest in developing effective strategies to inhibit lipid oxidation in emulsified food products due to the need to incorporate oxidatively labile bioactive lipids, such as ω-3 fatty acids, conjugated linoleic acids, or carotenoids. Emulsifiers or coemulsifiers can be utilized to inhibit lipid oxidation in emulsions. Both of these molecular types can adsorb to droplet surfaces and inhibit lipid oxidation, but emulsifiers can also stabilize droplets against aggregation whereas coemulsifiers cannot. There are a host of existing emulsifiers, covalent conjugates, or physical complexes that have the potential to inhibit lipid oxidation by a variety of mechanisms. Existing emulsifiers with antioxidant potential consist of surfactants, phospholipids, proteins, polysaccharides, and colloidal particles. Conjugates and complexes are typically formed by covalently or physically linking together a surface-active molecule with an antioxidant molecule. This article reviews the molecular and physicochemical basis for the surface and antioxidant activities of emulsifiers and coemulsifiers, highlights the important properties of interfacial layers that can be engineered to control lipid oxidation, and outlines different kinds of existing emulsifiers, conjugates, and complexes that can be used to inhibit oxidation.