The contents of the components in waste eel bone from roast eel were determined. Optimal conditions for extracting eel bone oil from waste eel bone as raw material, purifing the polyunsaturated fatty acids (PUFA) concentrates from eel bone oil via salt-forming with urea complexation, and preparation of microcapsules containig PUFA concentrates from eel bone oil by spray drying were investigated systematically. The results showed that the technique was easy to carry out, the complete yield for extracting eel bone oil was above 76%, the contents of EPA and DHA in PUFA purified from eel bone oil increased from 7. 4% to about 45%, the recovery of EPA plus DHA was 64% , the content of PUFA from eel bone oil in the microcapsuls was about 26. 2%, and its antioxidative stability was higher than that of mixture of PUFA concentrates without capsulizing.