In this study, poly e-caprolactone(PCL) microcapsules containing lemongrass oil was prepared by the solvent evaporation method. Effects of concentrations of PCL and poly vinyl alcohol (PVA) as well as stirring speeds when preparing microcapsules were investigated. Specific peaks of lemongrass oil in PCL microcapsules at 1600 and 2900 cm -1 were observed by FT-IR. The particle size and shape of microcapsules were also measured by polarizing microscope and optical microscopy. The average particle size of microcapsules decreased with increasing the stirring rate. At the stirring speed of 1500 rpm, and 1 wt% of each PCL and PVA concentrations, the smallest particles were formed. Collection efficiencies of lemongrass oil of 77.5% and 69.5% were obtained when 1.5 wt% of PCL and 2 wt% of PVA were used, respectively. In addition, the release behavior and antioxidant activity of lemongrass oil from PCL microcapsules were examined using UV-Vis spectrophotometry. When 0.5 wt% PCL and 2.0 wt% PVA were used with the slow stirring rate, microcapsules showed a fast release rate. The characteristics of antioxidant activity exhibited similar to that of the release behavior.