Paprika oleoresin (PO) is extensively utilized as a natural pigment in the food industry. However, its application in aqueous phase foods is hindered by due to its lipophilicity and sensitivity to oxygen, heat, and light. This study developed an aqueous PO solution using low-density lipoprotein (LDL) as a carrier, which was remodeled through high pressure homogenization treatment (0–100 MPa). Comprehensive analyses were conducted to characterize the micro-morphology, particle size, potential, and encapsulation efficiency (EE) of the solution, alongside evaluations of its storage, thermal, and ultraviolet (UV) irradiation stability, in addition to physicochemical and structural characterization of the remodeled LDL. The results showed that after high pressure homogenization (100 MPa, 10 cycles) treatment, the delamination of LDL-PO solution was significantly reduced, the average particle size decreased by 37.2%, the EE increased by 9.2%, and the storage, thermal, and UV irradiation stability increased from 30.83%, 64.42%, and 77.56% to 62.90%, 76.97%, and 92.98%, respectively. In addition, sodium dodecylsulfate-polyacrylamide gel electrophoresis (SDS-PAGE) and fluorescence spectroscopy analyses revealed that high pressure homogenization treatment enhanced the interaction and binding between LDL and PO, thus significantly improved the solubility and stability of PO in water. In this study, an aqueous solution of PO with higher stability and embedding rate was obtained by the greener and safer high pressure homogenization technique, offering new avenues for PO application in the food industry and innovative uses of LDL as a carrier for bioactive substances.