A dye, such as a fluorescent dye, is incorporated into polymer microparticles using a solvent system composed of a first solvent in which the dye and the microparticle polymer are soluble, a second solvent in which the dye and the microparticle polymer are not or only weakly soluble, and a third solvent in which the dye and the microparticle polymer are not or only weakly soluble. The first and second solvents are immiscible with each other, or at most partially miscible. The third solvent is miscible with the first and second solvents. The formulation provides substantially complete partitioning of the dye to the microparticles. The method may be used to obtain dyed polymer microparticle formed of cross-linked or non-cross-linked polymers. Libraries are provided comprising two or more sets of microparticles of different dye loadings. Fluorescent core-shell microparticles are produced from a mixture of microparticle cores incorporating one or more fluorescent dyes, a polymerization mixture comprising at least one polymerizable shell monomer, at least one free radical polymerization initiator comprising a water-insoluble oxidizing agent, and at least one water-soluble reducing agent.