We report on the coating of chitosan/lovastatin particles with a liquid solution of alginate using a 3D printing technique. The prepared particles are characterized by Scanning Electronic Microscopy, Infrared Spectroscopy, Dynamic Light Scattering, Differential Scanning Calorimetry, and Ultraviolet-Visible Spectroscopy. Characterization results reveal that the coating of alginate makes a considerable difference in the structure, morphology, size distribution and zeta potential of the chitosan/lovastatin particles, and the size of the coated particles is increased after the coating. We also demonstrate the drug release ability of the chitosan/lovastatin particles in simulated gastric fluid and controlled in simulated intestinal fluid. Drug release study reveals that the drug release profile of the coated particles varies significantly with the pH of the solution and the coating process significantly reduces the rate of release of the drug. We also report that the bioavailability of lovastatin particles can be improved by coating with the biopolymer layers.