From the first observation about 40 years ago that yeast cells were interesting protective structures that could be used in several industrial applications, processes have been developed enabling technologists to incorporate several compounds possessing different physico-chemical (hydrophobic/hydrophilic) properties. Technologists screened yeast diversity to choose strains possessing the best potential and modified their physiological state to increase the uptake capability and the envelope plasticity, for instance by increasing the amount of lipids. Physico-chemical treatments were also used to improve the uptake and decrease the yeast natural material impact on the final products. For example, yeast cells could be "emptied" of their plasmic material. Yeast cells can also be coated with an additional polymeric material to increase resistance to heat treatment or decrease material liberation. These capsules can be used for several applications including carbonless paper, perfuming tissues and drug targeting, but the main industrial application deals currently with flavour encapsulation, although encapsulation in yeast is also interesting for the global food industry trend for health products. This paper proposes to review the use of yeast as an encapsulation structure focusing particularly on the properties of the yeast capsule and their impact on loading, protection, targeting and release.