In order to avoid hemolysis caused by direct dietary of kidney tea saponin, complex gels based on gellan gum (GG) and soybean isolate protein (SPI) loaded with saponin were created in the present study by using a self-assembly technique. Studies were conducted on the rheological characteristics, encapsulation effectiveness, molecular structure, microstructure, and hypoglycemic activity of GG/SPI-saponin gels. Increasing the concentration of SPI helped to enhance the strength and energy storage modulus (G′) of the gels, and the incorporation of high acylated saponin allowed the whole gel to undergo sol–gel interconversion. The encapsulation efficiency showed that GG/SPI-saponin was 84.52 ± 0.78% for saponin. Microstructural analysis results suggested that GG and SPI were bound by hydrogen bonds. The in vitro digestion results also indicated that saponin could be well retained in the stomach and subsequently released slowly in the intestine. In addition, the in vitro hypoglycemic activity results showed that the IC50 of encapsulated saponin against α-glucosidase and α-amylase were at 2.4790 mg/mL and 1.4317 mg/mL, respectively, and may be used to replace acarbose for hypoglycemia.