A reusable sealing bottle cap assembly comprises a cap for placement onto the mouth of a bottle and an annular ring. The cap comprises an enclosed upper portion for enclosing the open mouth of the bottle, a circumferential area or recess adjacent to the enclosed upper portion of the cap, an extended ledge, and a circumferential lip on the underside of the cap for placement of the cap into the inner edge of the mouth of the bottle. The annular ring is receivable around the circumferential area of the cap for securing and sealing the cap onto the open mouth of the bottle. The annular ring comprises an outer flexible material and an inner rigid material. The cap and annular ring may be separate pieces or connected by a strap. The bottle cap assembly may be made of plastic resins; metals; silicones; bio-degradable materials; and/or oxygen absorbing materials.