Urea formaldehyde (UF) microcapsules used as self-healing materials were prepared with epoxy resin (E-51) as core and UF resin as shell. Effects of different dispersive methods on properties of microcapsules were investigated. Optical microscope, scanning electron microscope, and Fourier transform infrared spectroscopy results revealed core materials were well encapsulated in UF shell materials, and microcapsules prepared by one-step dispersive polymerization showed good sphericity, narrow diameter distribution, and rough surface. The analysis of thermal stability, mechanical properties, and osmosis performance evaluation indicated microcapsules prepared by one-step dispersive polymerization showed the highest decomposition temperature, mechanical properties, and slow osmosis, which were helpful for storage and usage in self-healing materials.