The invention discloses lutein ester microcapsule powder and a preparation method thereof. The preparation method comprises the following steps of: preparing an oil phase solution and a water phase solution respectively, and mixing and emulsifying the oil phase solution and the water phase solution; and non-water raw materials comprise the following components in part by weight: 1 part of lutein ester crystal, 0.05 to 0.1 part of oil phase antioxidant, 0.02 to 0.1 part of oil phase emulsifying agent, 0.05 to 1 part of plant oil, 0.5 to 25 parts of wall material, 0.1 to 0.5 part of water phaseemulsifying agent, 0.05 to 1 part of water phase antioxidant, and the balance of filler. In the preparation method for the lutein ester microcapsule powder, the oil-soluble lutein ester is fully dispersed in cold water in the form of sub nanometer particles, and the product can be self-emulsified in water, and is good in instant capacity and self-emulsification capacity, and high in stability, and has uniform and durable color; and the phenomena of oil floating, precipitation, adhesion to a bottle wall and the like are avoided during application. Organic solvents are not introduced in the powder, so solvent residues are avoided in the product. The production process is environment-friendly, simple and practicable, expensive equipment is not needed, and the microcapsule powder can be industrially produced easily and conveniently.