The encapsulated toner for heat-and-pressure fixing including a heat-fusible core material containing at least a thermoplastic resin and a coloring agent and a shell comprising a hydrophilic resin formed thereon so as to cover the surface of the core material, wherein the core material contains a silicone oil having a kinematic viscosity of from 10 to 500 cSt at 25.degree. C., and wherein the encapsulated toner is obtainable by in situ polymerization method. Such an encapsulated toner can be produced by in situ polymerization method including the following steps (a)-(c): (a) dissolving an amorphous polyester in a mixture comprising a core material-constituting monomer, a polymerization initiator, a silicone oil, and a coloring agent; (b) dispersing the mixture obtained in step (a) in an aqueous dispersant, and localizing the amorphous polyester on the surface of droplets of a core-constituting material to give a polymerizable composition; and (c) polymerizing the polymerizable composition obtained in step (b) by in situ polymerization method to form a core material, wherein the core material is covered with a shell comprising the amorphous polyester, thereby giving an encapsulated toner.