The present invention relates to a method for producing a dispersion of microcapsules of active ingredient, in suspension in water, comprising the following successive steps: heating a fatty phase comprising at least (i) a wax, and at least one active ingredient to be encapsulated, at a reaction temperature above the melting point of said wax; heating a first aqueous phase comprising at least one water-soluble surfactant and at least one protective colloid; incorporating said fatty phase into said first aqueous phase while maintaining the reaction temperature, so as to form a stable oil-in-water emulsion; adding, dropwise, said emulsion previously formed to a second aqueous phase comprising at least one water-soluble surfactant, the temperature of said second phase being below the melting point of said wax and resulting in the formation of solid crystalline microcapsules containing said active ingredient, said microcapsules being in suspension in said second aqueous phase. The invention also relates to the use of the microcapsules obtained at the end of the process, (i) for producing a cosmetic composition or (ii) for producing impregnated fabrics or (iii) for producing household products.