The objective of the study was to investigate the application of flaxseed oil cake extract (FOCE) for oxidative stabilization of flaxseed oil in spray-dried emulsions. Two variants of powders with 10% and 20% of flaxseed oil (FO), FOCE, and wall material (maltodextrin and starch Capsul®) were produced by spray-drying process at 180 °C. The oxidative stability of FO was monitored during four weeks of storage at 4 °C by peroxide value (PV) and thiobarbituric acid-reactive substances (TBARS) measurements. Additionally, the fatty acids content (especially changes in α-linolenic acid content), radical scavenging activity, total polyphenolics content, color changes and free amino acids content were evaluated. Obtained results indicated that FOCE could be an adequate antioxidant dedicated for spray-dried emulsions, especially with a high content of FO (20%). These results have important implications for the flaxseed oil encapsulation with natural antioxidant agents obtained from plant-based agro-industrial by product, meeting the goals of circular economy and the idea of zero waste.