High-amylose maize starch, with and without native lipid, was used to make inclusion complexes with flavor compounds to investigate the effect of water solubility of flavor compounds on inclusion complex formation. Two pairs of terpenes, having high and low water solubility, were used. Aqueous starches were dispersed by heat before adding the flavor compound. The amounts of starch, native lipid, and flavor compound in precipitates were determined, and inferences about the physical state were made using data from X-ray diffraction and differential scanning calorimetry. The water solubility of the flavor compound was related to the extent of inclusion complexation. For the higher water solubility flavor compounds, starch yield and flavor entrapment were higher, producing precipitates with the V 7 pattern. Complex formation with the low-solubility flavor compounds was most effective in the presence of native lipid, producing precipitates with the V 6 pattern. The lipid in native high-amylose maize starch may enhance complexation with low-solubility compounds by forming ternary coinclusion complexes of starch-lipid-flavor.