A microcapsule can be produced easily by (a) pulverizing a solid pesticidal compound in a fatty acid ester represented by formula (I) to form a suspensionwherein X denotes either —CH2—CH2— or —CH═CH— and R1 and R2 each denote a C1-C4 alkyl group, (b) mixing the resulting suspension and water to prepare a liquid droplet, and (c) forming a coating film around the liquid droplet. A microcapsule obtained in such a way contains most of the solid pesticidal compound within the microcapsule.