Saponins from Quillaja saponaria and Chenopodium quinoa were evaluated as natural emulsifiers in the formation of astaxanthin enriched canola oil emulsions. The aim of this study was to define the processing conditions for developing emulsions and to evaluate their physical stability against environmental conditions: pH (2–10), temperature (20–50 °C), ionic strength (0–500 mM NaCl), and storage (35 days at 25 °C), as well as their performance in an in vitro digestion model. The emulsions were characterized, evaluating their mean particle size, polydispersity index (PDI), and zeta potential. Oil-in-water (O/W) emulsions were effectively produced using 1% oil phase and 1% emulsifier (saponins). Emulsions were stable over a wide range of pH values (4–10), but exhibited particle aggregation at lower pH, salt conditions, and high temperatures. The emulsion stability index (ESI) remained above 80% after 35 days of storage. The results of our study suggest that saponins can be an effective alternative to synthetic emulsifiers.