Encapsulation and delivery of oxygen, carbon dioxide, and other therapeutic gases, using polymeric microcapsules (PMCs) is an emerging strategy to deliver gas as an injectable therapeutic. The gas cargo is stored within the PMC core and its release is mediated by the physiochemical properties of the capsule shell. Although use of PMCs for the rapid delivery of gases has been well described, methods which tune the material properties of PMCs for sustained release of gas are lacking. In this work, we describe a simple method for the high-yield production of gas-in-oil-filled PMCs with tunable sizes and core gas content from preformed polymers using the sequential phase separation and self-emulsification of emulsion-based templates. We demonstrate that prolonged gas release occurs from gas-in-oil PMCs loaded with oxygen and carbon dioxide gas, each of which could have significant clinical applications.