The invention discloses a lutein ester and a water-soluble lutein ester microcapsule, and preparation methods thereof. Lutein ester is extracted from marigold particles, the lutein ester is obtained after concentration, washing and residue removal, and the lutein ester microcapsule is prepared from the lutein ester through a secondary embedding process. The lutein ester is extracted from the marigold particles, the raw materials are economical and easy to obtain, separation and purification are not carried out, part of medicinal value of the marigold particles is reserved, the health care effect of the lutein ester is improved, meanwhile, the prepared capsule can be more stable and easier to store by adopting the secondary embedding technology, and the lutein ester capsule is suitable forthe fields of foods, medicines and the like. The technical problem of high requirements on extraction equipment in the prior art is effectively solved, so that the technical effects of low equipment requirements, simple process and greatly reduced production cost are achieved.