Unsaturated fat replacement should be used to reduce the use of saturated fat and trans fatty acids in the diet. In this study, pea protein micro-gels (PPMs) with different structures were prepared by microparticulation at pH 4.0-7.0 and named as PPM (pH 4.0), PPM (pH 4.5), PPM (pH 5.0), PPM (pH 5.5), PPM (pH 6.0), PPM (pH 6.5), and PPM (pH 7.0). Pea protein was used as a control to evaluate the structure and interfacial properties of PPMs by particle size distribution, Fourier transform infrared spectroscopy (FTIR), free sulfhydryl group content, and emulsifying property. PPM (pH 7.0) was suitable for application in O/W emulsion stabilization because of its proper particle size, more flexible structure, high emulsifying activity index (EAI) and emulsifying stability index (ESI). The Pickering emulsion stabilized by PPM (pH 7.0) had a uniform oil droplet distribution and similar rheological properties to cream, so it can be used as a saturated fat replacement in the manufacture of ice cream. Saturated fat was partially replaced at different levels of 0%, 20%, 40%, 60%, 80%, and 100%, which were respectively named as PR0, PR20, PR40, PR60, PR80, and PR100. The rheological properties, physicochemical indexes, and sensory properties of low-saturated fat ice cream show that PPM (pH 7.0)-stabilized emulsion can be used to substitute 60% cream to manufacture low-saturated fat ice cream that has high structural stability and similar melting properties, overrun, and sensory properties to PR0. The article shows that it is feasible to prepare low-saturated fat ice cream with PPM (pH 7.0)-stabilized Pickering emulsion, which can not only maintain the fatty acid profile of the corn oil used, but also possess a solid-like structure. Its application is of positive significance for the development of nutritious and healthy foods and the reduction of chronic disease incidence.