Phase change microcapsules were prepared by in-situ polymerization with melamine-urea-formaldehyde resin as wall material and tetradecane as core material, which could store energy and release heat at low temperature. The effects of core wall ratio, stirring temperature and emulsifying speed on the morphology, particle size and thermal stability of microcapsules were investigated by scanning electron microscopy (SEM), laser particle size analyzer (FT-IR) and differential scanning calorimeter (DSC). The performance of phase change asphalt was studied by DSC and DSR. The results showed that when the ratio of core to wall was 1:1, the stirring temperature was 75 ℃, and the emulsifying stirring rate was 3000 rpm, the performance of microcapsules was the best, and the latent heat of phase change was 119J/g. Phase change microcapsules can keep the structure intact in phase change asphalt, which will not seriously affect the road performance of asphalt.