The present invention relates to a microencapsulated pigment in which pigment particles having cationic groups on their surfaces are coated with a polymer having repeating structural units derived from an anionic polymerizable surfactant having at least an anionic group, a hydrophobic group and a polymerizable group, and a microencapsulated pigment in which pigment particles having anionic groups on their surfaces are coated with a polymer having repeating structural units derived from a cationic polymerizable surfactant having a cationic group, a hydrophobic group and a polymerizable group. Further, the invention relates to a process for producing the microencapsulated pigment, an aqueous dispersion containing the microencapsulated pigment, and an ink jet recording ink containing the aqueous dispersion.