Provided are a method for forming polyurea microcapsules containing a saturated alcohol as a dispersion medium, and microcapsules prepared using the method. According to the method, suspensions, in which microcapsules are dispersed in a saturated alcohol dispersion medium as a core material, may be used to prepare microcapsules. Diverse and fine color expression may be obtained from various response characteristics in the display applications. In addition to superior processibility, excellent thermal stability, solvent resistance, and chemical stability may be achieved by using polyurea in microcapsules as a wall material according to one embodiment of the present invention.