Wi-Fi signals contain information about the surrounding propagation environment and have been widely used in various sensing applications such as gesture recognition, respiratory monitoring, and indoor position. Nevertheless, this information can also be easily stolen by eavesdroppers to obtain private information. In this paper, we propose WiShield, a new framework that protects legitimate users using Wi-Fi sensing applications while preventing unauthorized privacy attacks. The implementation of WiShield is based on a simple principle of physically encrypting Wi-Fi channel status information (CSI) to prevent eavesdroppers from inferring sensitive information through stolen CSI. To achieve a balance between encryption strength, sensing accuracy, and communication quality, we design an efficient multi-objective optimization framework that can safely deliver decryption keys to legitimate users and prevent illegal eavesdropping by eavesdroppers. We implemented the WiShield prototype on an SDR platform and conducted extensive experiments to verify its effectiveness in common Wi-Fi sensing applications. We believe that the implementation of WiShield can improve the privacy standards of Wi-Fi sensing applications, and it is also an important step towards making the integration of Integrated Sensing and Communications (ISAC).