Abstract: Half N-acetylated chitosan (HNC)-based microcapsules were prepared under neutral conditions by coacervating with methacrylic acid (MAA) (20.4%)-hydroxyethyl methacrylate (HEMA) (27.4%)-methyl methacrylate (MMA) (52.2%) terpolymer (MAA-HEMA-MMA). The formed microcapsules consisted of a liquid inner core of HNC and an outer complexation shell derived from HNC and terpolymer. Prepared from 15.3% N-acetylated chitosans (FNC), HNC maintained good solubility and supplied enough protonated amino groups to coacervate with terpolymer to form microcapsules under physiological conditions. The viscosity of HNC solution between 80 and 3000 cPa•s guaranteed the formed microcapsules with good spherical shape. The preparation parameters, including pH, HNC molar mass, chitosan concentration and reaction time, greatly influenced the intrinsic coating membrane features such as morphology, thickness and network porosity, and further determined microcapsules’ permeability and mechanical stability. Low concentration of HNC favored the permeability of microcapsules, whereas high concentration was good for the resistance of microcapsules to shear force.