This study investigated the capability of phytoglycogen (PG) to improve the water-soluble amount and bioavailability of resveratrol (RES). RES and PG were incorporated through co-solvent mixing and spray-drying to form PG-RES solid dispersions. The soluble amount of RES of PG-RES solid dispersions reached 289.6 μg/mL at PG:RES ratio of 50:1, compared with 45.6 μg/mL for RES alone. X-ray powder diffraction and Fourier-transform infrared spectroscopy tests suggested a significant reduction of RES crystallinity in PG-RES solid dispersions and the formation of hydrogen bonds between RES and PG. Caco-2 monolayer permeation tests showed that, at low RES loading concentrations (15 and 30 μg/mL), PG-RES solid dispersions achieved greater permeation of RES (0.60 and 1.32 μg/well, respectively) than RES alone (0.32 and 0.90 μg/well, respectively). At an RES loading of 150 μg/mL, PG-RES solid dispersion realized RES permeation of 5.89 μg/well, suggesting the potential of PG in enhancing the bioavailability of RES.