The modified acrylate redispersible polymer powders were obtained in a free-flowing form by spray drying the structured latex. The latex with configuration of soft-core and hard-shell was produced by emulsion polymerization, where methyl methacrylate (MMA) and butyl acrylate (BA) were used as comonomers, methacrylic acid (MAA) as functional monomer. The latex was modified by adipic dihydrazide (ADH) to lower the minimum film-forming temperature (MFFT), and it was found that the MFFT of the latex decreased as the content of ADH increased. The obtained latex was transformed into redispersible polymer powders by spray drying, where the silica-sol was used as anticaking agent. Transmission electron microscopy (TEM) was used to detect the distribution of silica sol in the latex before spray drying, and a raspberry morphology was found. Meanwhile, zeta potential showed that the polymer/silica system was rather stable. After spray drying, the morphology of the polymer powders and the distribution of silica were characterized by SEM and EDS. It indicated that the polymer powders had a standard spherical shape with silica-rich surface. The polymer powders could be redispersed in water with the properties similar to the “mother” latex; SEM showed that the redispersion formed a dense and smooth film at 25 °C.