The objective of this new paper was to evaluate the enzymatic esterification reaction conducted in supercritical or near-critical CO2, catalyzed by immobilized lipase B from Candida antarctica (CALB). The biocatalyst was prepared through the immobilization of CALB by covalent attachment using chitosan sequentially activated with Glycidol, ethylenediamine (EDA) and glutaraldehyde as support. In order to determine the best operational conditions of the esterification reaction (1: 1 (alcohol-acid); biocatalyst content, 10% (by substrate mass); 45 °C), an experimental design (23) was conducted to evaluate the effects of the following parameters: alcohol to oil molar ratios, reaction time and temperature. The maximum loading of chitosan was 20 mg protein/g support, and the thermal and solvent stability of the new biocatalyst was higher than that of the CALB-GX (by a 26-fold factor), CALB-OC (by a 53-fold factor) and Novozym 435 (by a 3-fold factor). The maximum conversion was 46.9% at a temperature of 29.9 °C, ethanol to oleic acid molar ratio equal to 4.50:1, and a reaction time of 6.5 h. Additionally, the removal of water from the medium, by using molecular sieves, promoted a 16.0% increase in the conversion of oleic acid into ethyl esters.