A process for preparing a recording material comprising a support and a recording layer on the support, said recording layer containing a coupling agent and containing microcapsules containing a diazo compound, wherein a microcapsule dispersion which is coated on the support to form the recording layer is prepared by preparing an emulsion containing at least a diazo compound and a microcapsule wall-forming substance, forming microcapsule walls on emulsion droplets, and removing diazo compound remaining unincluded in the microcapsules formed from the emulsion.