A low cost food grade emulsifier (a mixture of monoglycerides, diglycerides and sodium stearoyl lactylate) in combination with polyethylene glycol (PEG)-40 stearate was used as an alternative to pure staturated phospholipids to form the thin shell of a microbubble (micron-scale hollow spheres (normally 10–200 um) with a gaseous core coated with a thin shell). Polydisperse coated microbubbles can be generated using a probe sonification technique. To investigate the stability of microbubble in water system over time, shell emulsifier monolayer isotherm with fluorescence microscope was used. We present that shell microstructure of the mixed monolayer on air/water interface was changed by varying the concentration ratio of emulsifiers (food grade emulsifier and PEG-40s) concentration. The monolayer microstructure correlated the surface morphology of microbubbles dissolution behavior under degassed media with various degassing degree. Those dissolution behavior involving the buckling and rupture of the coated monolayer can be explained by the phase behavior of emulsifiers and their role in stability of microbubbles in water systems.