To explore the potential application of plant essential oil in the postharvest preservation of fruits, the inclusion complex (IC) of Litsea cubeba essential oil (LCEO) with hydroxypropyl-β-cyclodextrin (HPβCD), prepared by the saturated aqueous solution method, was studied. LCEO/HPβCD-IC was characterized by fourier transform infrared spectroscopy (FT-IR), X-ray diffraction (XRD), scanning electron microscopy (SEM), particle size distribution, and thermogravimetric-differential scanning calorimetry (TG-DSC) analysis. The formation of LCEO/HPβCD-IC was confirmed, and the volume average particle diameter was 24.376 µm. Due to the inclusion of HPβCD, the volatility of LCEO was significantly reduced and the thermal stability was significantly improved. In addition, the antifungal activities of the LCEO ICs were compared, and LCEO/HPβCD-IC was more effective against the citrus postharvest pathogens (P. italicum and G. citri-aurantii). The effects of the LCEO ICs on the postharvest quality of Shatang mandarin were studied. Compared with the control group (CK) and LCEO/βCD-IC group, the LCEO/HPβCD-IC group showed a significant delay in the decrease of good fruit rate, hardness, total soluble solids (TSSs), and Vitamin C (Vc) content, with a lower weight loss rate of Shatang mandarin. Therefore, LCEO/HPβCD-IC is expected to be used as a green preservative for the storage and preservation of citrus fruits.