PURPOSE: To obtain such a microcapsule toner that the image can be fixed immediately by pressurizing and the fixed image is hardly peeled or broken by external force, and that the toner shows no reduction of fixing property for a long period of storage.

CONSTITUTION: This microcapsule toner consists of a core material containing a fixing component and an outer shell which covers the core material. The fixing component has a microphase separation structure consisting of a dispersion phase containing a resin and having ≤20°C glass transition temp., and a liquid continuous phase. The fixing component contains block copolymers and/or graft copolymers consisting of two or more components having solubility with the dispersion phase or the continuous phase. The resin in the dispersion phase is copolymers of two or more kinds of radical polymerizable monomers. It is preferable to use polymers obtd. by copolymn. of polymerizable tertiary amino group-contg. compd. As the continuous phase an aliphatic satd. hydrocarbon solvent, liquid polymer, or oligomer are used, and as the graft copolymer is polymers obtd. by polymn. of macromonomers is preferable.