The aim of this work was to study the morphology and physical properties of siloxane–polyacrylate (SPA) dispersion and coating films. The SPA dispersion was synthesized by seeded emulsion polymerization using two different types of silane coupling agents, i.e., vinyltriethoxysilane (VTES) and 3-(trimethoxysilyl) propyl methacrylate (MPTMS), at 1–9% by weight. The effect of the type and content of silane coupling agent used in the SPA dispersion synthesis on the resulting morphology and physical properties of the obtained SPA dispersion and coating films were studied. The results revealed that SPA dispersion synthesized using VTES exhibited a smaller particle size and a higher stability than those using MPTMS. Furthermore, the hydrophobic surfaces and water repellence of the coating films using VTES in the emulsion were higher than those using MPTMS, due to the smoother surface morphology.