The present invention relates to a method for preparing microcapsules by coacervation, and to the use of transglutaminase for cross-linking in complex coacervation. The present invention relates further to coacervation processes in general in which a material to be encapsulated is added to a solution comprising at least one colloid below the gelling temperature of the colloid. According to a method of the present invention, an emulsion or suspension of hydrophobic material is prepared after cooling a solution that includes hydrocolloids below the critical gelling temperature of a coacervate phase.