Emulsions are widely utilized in food systems but often face stability challenges due to environmental stresses, such as pH, ionic strength, and temperature fluctuations. Fish skin gelatin (FSG), a promising natural emulsifier, suffers from limited functional properties, restricting its broader application. This study explored the enhancement of emulsion stability in Litsea cubeba essential oil systems through the glycosylation of fish skin gelatin (FSG) with dextran via the dry Maillard reaction. Among dextrans of varying molecular weights (10 kDa, 100 kDa, 200 kDa, and 500 kDa), the 200 kDa dextran exhibited the best emulsification performance, achieving a remarkable 160.49% increase in stability index. The degree of grafting (DG) increased with molecular weight, peaking at 34.77% for the 500 kDa dextran, followed by 23.70% for the 200 kDa variant. The particle size of the FSG–Dex 200 kDa conjugate emulsion was reduced to 639.1 nm, compared to 1009–1146 nm for the unmodified FSG, while hydrophobicity improved by 100.56%. The zeta potential values approached 30 mV, indicating enhanced stability. Furthermore, glycosylation significantly improved antioxidant activity, as evidenced by increased radical scavenging capacity in both DPPH and ABTS assays. These findings underscore the potential of glycosylated FSG as a natural emulsifier in food applications.