This study focuses on developing an oral drug delivery system for the sustained release of the anti-diabetic drug sitagliptin. The system is designed using a polyelectrolyte complex formed by combining anionic brown algae alginate and sulfated red seaweed ĸ-carrageenan with cationic chitosan. The primary objective is to enhance drug retention in the acidic environment of the gastrointestinal tract, thereby improving its bioavailability in the intestine, where absorption is most effective. In vitro, studies conducted in simulated gastric fluid (SGF) and simulated intestinal fluid (SIF) indicated that coating an alginate–chitosan core with ĸ-carrageenan (CA20) resulted in favorable properties for oral drug delivery. The composite effectively controlled drug diffusion at pH 1.2, characteristic of the stomach, ensuring that a significant portion of the drug reached the intestine. The sitagliptin-loaded composite (CA20) exhibited approximately 36% of the drug release in SGF at pH 1.2, followed by a sustained release over 4 h in SIF at pH 7.4. Mathematical modeling of the drug release kinetics showed that the Higuchi model provided the best fit, with an R2 value of 0.964 or higher. Structural integrity assessments using FT-IR, XRD, DSC, and SEM confirmed the stability of the composites. These findings suggest that the developed composites hold promise as effective drug delivery systems for intestinal absorption and extended release, with potential applications in targeting the colon.