The present invention relates to a method for preparing polymer microparticles with a reduced initial burst and the polymer microparticles prepared thereby. More particularly the present invention relates to a method for preparing drug loaded polymer microparticles with a reduced initial burst comprising the step of contacting the polymer microparticles with an alcohol aqueous solution the polymer microparticles prepared thereby and use for drug delivery of the polymer microparticles. Accordingly the present invention provides a novel method of preparing polymer microparticles with a reduced initial burst. The method of the present invention may be useful for preparing a new formulation of drug that can prevent various side effects caused by excessive release of drug.