The low-temperature reversible thermochromic microcapsules was prepared by interfacial polymerization, which an aqueous phase containing CoCl2 was used as the internal water phase (W1), cyclohexane was used as the oil phase (O), polyvinyl alcohol was used as the external water phase (W2) to form the uniform W1/O/W2 multiple emulsion. The structures of microcapsules were investigated using infrared spectrum (IR), electron microscopy (SEM) and polarization microscope. The properties of microcapsules, such as thermochromism and solvent resistance were also investigated. The results presented that the particle size of capsules was uniform, their walls were transparency, and the microcapsules were provided with excellent sensitivity to heat, reversibility and solvent resistance.