Edible coatings enriched with antioxidants offer a promising approach to prolong the shelf life of oxidation-sensitive foods such as nuts. Nonetheless, not all formulations provide the expected protection, and understanding why is equally important. The aim of this study was to assess the effect of an Arabic gum/gelatin/ascorbyl palmitate (GAR/GEL/AP) coating on the quality of hazelnut kernels during storage at 23 °C and ~40% relative humidity. The coating was applied by dipping hazelnuts in a 20% ethanolic solution containing GAR/GEL 75/25 blend (10% w/w), glycerol (1% w/w), Tween 80 (0.25% w/w), and AP (2% w/w), followed by drying. Control (uncoated) and coated hazelnuts were stored in plastic containers and evaluated at 1, 2, 4, 8, and 16 weeks for weight loss, moisture content, hardness, color, 2,2-diphenyl-1-picrylhydrazyl radical (DPPH*) scavenging activity, acid and peroxide values, and thiobarbituric acid reactive substances (TBARS) level. Coated hazelnuts showed higher initial moisture content (8.17%), stabilizing at 4.80% after one week, compared to 3.35% in uncoated samples. This increased moisture led to greater storage-related weight loss. The coating darkened the nuts and reduced their yellow hue. It had no significant effect on hardness, peroxide value, or TBARS index, but notably enhanced the antiradical potential. After 16 weeks, coated nuts had an acid value ~10 mg KOH/g lower than the control. In conclusion, the coating improved antioxidant capacity and reduced hydrolytic, but not oxidative, rancidity in hazelnuts. Therefore, further optimization of the coating formulation or application method is necessary to more effectively improve the shelf life of hazelnuts.