Cocoa hull waste phenolic extract (CHWPE) was encapsulated by chitosan coated liposomes with 0.2% of concentration. Ayran (drinking yoghurt) system was employed as a vehicle for inclusion of phenolic loaded liposomes in dispersion and powder form. Antioxidant capacityand in-vitro bioaccessibility of both dispersion and spray-dried powder liposomal systems with CHWPE included in ayran samples were investigated during the storage period of 15 days. Compared to the ayran sample with CHWPE (0.05%), in-vitro bioaccessibility of encapsulated CHWPE in ayran was determined to be 5 fold and 2 fold higher in the form of liposomal powder (0.05%), and liposomal dispersion (0.1%) in terms of total phenolics and total flavonoids, and total antioxidant capacity (DPPH and CUPRAC assays). The bioaccessibility of catechin (50%) and ferulic acid (80%) of encapsulated CHWPE in liposomal powder showed no significant difference (p > 0.05) during storage. In dispersion of liposomes, bioaccessibility of individual phenolic compounds was variable. Vanillin showed the minimum bioaccessibility in liposomal powder (19%) and liposomal dispersion (16%) at the end of storage. In summary, the use of liposomal delivery systems in powder form should be recommended in ayran system. Although the psychochemical properties of enriched ayran were not monitored in this study, it is suggested that these properties be taken into consideration in determining the form of liposomes to be added to a food product. (C) 2018 Elsevier Ltd. All rights reserved.