We report the preparation of o/w emulsions stabilised by microcrystals of cyclodextrin-oil inclusion complexes. The inclusion complexes are formed by threading cyclodextrins from the aqueous phase on n-tetradecane or silicone oil molecules from the emulsion drop surface which grow further into microrods and microplatelets depending on the type of cyclodextrin (CD) used. These microcrystals remain attached on the surface of the emulsion drops and form densely packed layers which resemble Pickering emulsions. The novelty of this emulsion stabilisation mechanism is that molecularly dissolved cyclodextrin from the continuous aqueous phase is assembled into colloid particles directly onto the emulsion drop surface, i.e. molecular adsorption leads to effective Pickering stabilisation. The β-CD stabilised tetradecane-in-water emulsions were so stable that we used this system as a template for preparation of cyclodextrinosomes. These structures were produced solely through formation of cyclodextrin-oil inclusion complexes and their assembly into a crystalline phase on the drop surface retained its stability after the removal of the core oil. The structures of CD-stabilised tetradecane-in-water emulsions were characterised using optical microscopy, fluorescence microscopy, cross-polarised light microscopy and WETSEM while the cyclodextrinosomes were characterised by SEM. We also report the preparation of CD-stabilised emulsions with a range of other oils, including tricaprylin, silicone oil, isopropyl myristate and sunflower oil. We studied the effect of the salt concentration in the aqueous phase, the type of CD and the oil volume fraction on the type of emulsion formed. The CD-stabilised emulsions can be applied in a range of surfactant-free formulations with possible applications in cosmetics, home and personal care. Cyclodextrinosomes could find applications in pharmaceutical formulations as microencapsulation and drug delivery vehicles.