The emulsification of ultrasonic-assisted prepared octenyl succinic anhydride (OSA) rice starch on curcumin was investigated in the present study. The results indicated that the encapsulation efficiency of curcumin in emulsions stabilized by OSA-ultrasonic treatment rice starch was improved, from 81.65 ± 0.14% to 89.03 ± 0.09%. During the in vitro oral digestion, the particle size and Zeta potential of the curcumin emulsion did not change significantly (p > 0.05). During the in vitro digestive stage of the stomach and small intestine, the particle size of the curcumin emulsion continued to increase, and the absolute potential continued to decrease. Our work showed that OSA-pre-treatment ultrasonic rice starch could improve curcumin bioavailability by increasing the encapsulation efficiency with stronger stability to avoid the attack of enzymes and high intensity ion, providing a way to develop new emulsion-based delivery systems for bioactive lipophilic compounds using OSA starch.