Based on the low hydration heat demand of cement slurry system used in deep water cementing, novel materials, namely, microencapsulated phase change materials (MPCMs), were synthesized and used to control the heat evolution of cement slurry by physical means. Here, the temperature profiles and hydration heat of cement slurry system were tested by using the developed semiadiabatic test apparatus. Firstly, the MPCM containing low melting paraffin wax with urea formaldehyde resin shell was synthesized by in situ polymerization. Then the properties of MPCM, such as structure, encapsulation efficiency, acid and alkali corrosion resistance, phase change properties, and thermal stability, were characterized by a series of methods. As a result, it was confirmed that the MPCM could be introduced and used to control the heat evolution of cement slurry system. Secondly, the synthesized MPCM was introduced into cement slurry system to control the heat evolution, and an intelligent cement slurry system, which could be used in the cementing of gas hydrate formation, was prepared. The highlight of current study is that the heat evolution of cement slurry system was successfully controlled by the synthesized MPCM through physical means. Besides, this study provides some guidance for the research and development of deep water oil and gas resources.