The work aims to prepare multi-walled isocyanate microcapsule and the microcapsule-embedded polyurethane (PU) self-healing anticorrosive coating. The wall of IPDI-loaded microcapsule from the inside to the outside were polyurea inner mem-brane, phenolic outer shell and PGMA particle layer, respectively, which were formed by interfacial polymerization, in-situ polymerization, and self-assembly in the Pickering emulsion. The core contents of the microcapsules were obtained by Soxhlet extraction experiment. The morphology and shell structure of the microcapsules were observed by SEM and OM. The composition and reactivity of the microcapsules were studied by FTIR and DSC tests. The self-healing and anti-corrosion of PU coating embedded the microcapsule were studied by EIS and accelerated corrosion experiments. As the core-shell mass ratio in-creased, the core content of the microcapsules increased. When the core-shell ratio was 2.5∶1, the core content was the largest and reached 70.22%. When the core-shell ratio was 1.5∶1, the microcapsules had the best sphericity and the smallest mean particle size of 86.12 μm, and were distributed uniformly. IPDI-loaded microcapsules had a layer of polyurea inner membrane, a phenolic shell and a layer of PGMA particles. The IPDI core was successfully encapsuled and remained effective. The initial decomposition tem-perature of IPDI-loaded microcapsules was 235.8 ℃, which had a good protective effect on the core material. The impedance modulus of self-healing coating embedded IPDI microcapsules after the scratch was restored to the same level compared with that at initial state (before the scratch). After immersed in saline solution for 192 h, no corrosion occurred at the scratch of the self-rehealing coating. IPDI microcapsules have higher core content, better sphericity and uniform distribution. The one-step pro-cess can achieve efficient encapsulation on the active core material, and the multi-wall structure is beneficial to improving the ther-mal stability and effectiveness of the microcapsule. The self-healing coating has a self-repairing and anti-corrosion property due to the formation of a cured film inhibiting the corrosion at the scratch.