A microcapsule contains a biodegradable polymer and risperidone and has a sustained release property. The biodegradable polymer contained in the microcapsule has a molecular weight corresponding to 85% or more of an initial molecular weight (Mw) of the biodegradable polymer. A method of producing the microcapsule is also disclosed. The method of producing a microcapsule has (A) a step of preparing a first phase by mixing a solution of a biodegradable polymer and a solution of risperidone which are prepared separately, (B) a step of, immediately after the preparation of the first phase, mixing the first phase with a second phase being an aqueous phase to prepare an emulsion, and (C) a step of subjecting the resulting emulsion to in-water drying.
