Herein we report the formation of dry powder complexes of ibuprofen (IBU) and hydroxypropyl-gamma-cyclodextrin (HP-gamma-CyD) by supercritical CO2-assisted spray-drying (SASD). SASD of HP-gamma-CyD alone, IBU/HP-gamma-CyD, as well as the physical mixture were prepared and characterized using attenuated total reflectance Fourier transform infrared spectroscopy (ATR-FTIR), X-ray diffraction (XRD), ultra-violet spectroscopy (UV), C-13 cross-polarization magic angle spinning nuclear magnetic resonance (C-13 CP/MAS NMR), differential scanning calorimetry (DSC) and morphological studies. Results indicate the successful formation of amorphous inclusion complexes. SASD is a clean technology, suitable for processing thermolabile APIs, thus an interesting alternative to conventional spray drying and other methods of CyD solid complex formation.