The invention relates to a microcapsule suspension, the high-efficiency cyhalothrin microcapsule suspension comprises the following components: 1-20% of high-efficiency cyhalothrin, 1-10% of a solvent, 1-8% of a capsule wall material, 0.1-3% of a protecting adhesive, 2-5% of an emulsifier, 3-5% of a dispersant, 0.01-14% of an adjuvant and 1-99% of water. The preparation method is characterized in that a high-efficiency cyhalothrin active substrate is taken as the capsule core, a polyurea resin is taken as the capsule wall material, an interfacial polymerization technology is used for preparing the high-efficiency cyhalothrin microcapsule suspension, and finally the cyhalothrin microcapsule suspension is prepared. The effective components in the cyhalothrin microcapsule suspension are concentrated in the capsule core, and other medium can be water, such that environmental pollution is reduced, and production cost is effectively reduced. The high-efficiency cyhalothrin microcapsule suspension has release controlling capability, pesticide lasting period can be prolonged by 3-10 times, acute toxicity of original medicine can be reduced, toxicity of the cyhalothrin microcapsule suspension on non-target organisms is also reduced, and the high-efficiency cyhalothrin microcapsule suspension is safe to use and transport.