The goal of this research was to prepare inclusion complexes with β-carotene and β-cyclodextrin as viable fortificants via physical blending (PB), kneading (K), and co-precipitation (CP). The physicochemical characteristics (inclusion efficiency, yield, antioxidant activities, FTIR spectra, scanning electron micrographs) besides in vitro release and antioxidant properties of the complexes were evaluated with rice as food matrix. CP and PB solids exhibited highest inclusion efficiency (83%) and yield (100%), respectively. Fourier Transform Infrared Spectroscopy (FTIR) spectra revealed changes in intensity, position, and number of peaks in β-cyclodextrin and β-carotene, confirming guest-host interactions in inclusion complexation. Scanning electron micrographs showed heterogeneous particles of β-carotene and β-cyclodextrin in PB but homogeneous solids in K and CP complexes. Simulated in vitro digestion showed burst release of β- carotene in PB complexes. Food matrix appeared to synergistically affect release and antioxidant properties. K and CP complexes exhibited sustained radical scavenging activity and ferric reducing power, respectively, and may be recommended for further applications.