β-Cyclodextrin (β-CD) inclusion complex containing geranyl acetone as a guest was prepared by saturated water solution method. Furthermore, the structure and properties of the inclusion complex were studied. The formation of the inclusion complex was demonstrated by. Fourier transform infrared spectroscopy (FTIR), X-ray diffraction (X-RD), thermogravimetric analysis (TG) and differential scanning calorimetry (DSC). The thermodynamic analysis of the inclusion complex showed that the inclusion reaction is an endothermic spontaneous reaction. The average of △H, △S and △G is 11.66 kJ mol⁻¹, 0.082 kJ mol⁻¹ and − 14.49 kJ mol⁻¹, respectively. Moreover, the kinetic analysis of thermal decomposition of the inclusion compound showed that the thermal decomposition reaction is a first-order reaction (the inclusion ratio is 1:1), the average activation energy of the reaction is 180.90 kJ mol⁻¹, and the binding force in the inclusion compound is mainly Van der Waals force. The flavor test of cigarettes showed that the inclusion compound improved the stability of geranyl acetone and the sensory quality of cigarettes. This study improves the solubility and thermal stability of geranyl acetone, and provides theoretical support and technical guidance for expanding the application of geranyl acetone.