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In this paper an audio coding scheme based on the Empirical Mode Decomposition (EMD) in association with the Hilbert transform is presented. The audio signal is decomposed adaptively into intrinsic oscillatory components called Intrinsic Mode Functions (IMFs) by EMD, and the associated instantaneous amplitudes and the instantaneous phases are calculated. The basic principle of the proposed approach consists in encoding the instantaneous amplitudes by linear prediction and the instantaneous phases by scalar quantization. The decoder recovers the original signal from IMFs reconstruction by demodulation and summation. The compression method is applied to different audio signals, and results are compared to MP3 a variable bit rate coder and to wavelet approaches.