The invention discloses a preparation method of high-oil-loading microcapsule powder without adding a synthetic emulsifier. Vegetable protein or animal protein is used as a protein raw material, a protein dispersion solution is prepared, after protein denaturation is promoted through primary heat treatment, ketose or aldose is added, wet-method Maillard reaction is promoted through secondary heat treatment, and a pre-prepared wall material solution is generated. Grease is added, and the balance is supplemented with the micromolecular filler. And carrying out vacuum degassing, high-speed homogenization, high-pressure homogenization, UHT sterilization, spray drying and other processes to produce the high-oil-loading microcapsule powder. The microcapsule powder is high in oil carrying rate, high in embedding rate and good in dispersity, and no synthetic emulsifier is added in the microcapsule preparation process.