Polyelectrolyte-modified montmorillonite particles were used to stabilize oil-in-water Pickering emulsions, which were then bound together by an oil-soluble cross-linker to obtain microcapsules. It was determined how the morphology and rigidity of the microcapsules changed as polyelectrolyte and cross-linker concentrations were varied. Well-defined microcapsules could be formed by using a moderate concentration of polyelectrolyte, and the higher the cross-linker concentration, the more rigid the microcapsules. Dried microcapsules were observed using SEM, and it was shown that the clay platelets lie flat next to each other on the microcapsule surface, forming an armor-like structure.