Fucus vesiculosus extracts that have both radical scavenging activity and metal chelating ability in vitro were used as natural antioxidant in granola bars enriched with fish oil emulsion by using primary and secondary emulsion systems stabilized by sodium caseinate alone and sodium caseinate–chitosan. The bars were stored at 20 °C and evaluated over a period of 10 weeks by measuring the development of primary and secondary oxidation products. The samples prepared with secondary emulsion system developed less oxidation products probably due to increased interfacial layer thickness that would act as a barrier to the penetration and diffusion of molecular species that promote oxidation. The positive charge of oil droplets in the secondary emulsion may also inhibit iron–lipid interaction through electrostatic repulsion. Additional protection against lipid oxidation was obtained when fish oil emulsions were added to the granola bars especially in combination with acetone and ethanol extracts of Fucus vesiculosus.