A carotenoid formulation in oil suspensions, comprises a carotenoid with an average particle size of 10µm or less, an antioxidant and an edible oil. A feed contains the said carotenoid formulation, a method for preparing the feed and use of the carotenoid formulation as an additive of animal feeds, foods, cosmetics and/or pharmaceuticals. The active ingredients in the feed granules are homogeneously distributed in the feed granules, majority of which are substantially distributed inside the granules, to reduce the loss caused by oxidation on the surface.