Thermal energy storage (TES) using phase change materials (PCMs) is an innovative approach to meet the growth of energy demand. Microencapsulation techniques lead to overcoming some drawbacks of PCMs and enhancing their performances. This paper presents a comprehensive review of studies dealing with PCMs properties and their encapsulation techniques. Thus, it is essential to critically examine the existing techniques and their compatibility with different types of PCMs, coating materials, and the area of application. The main objective of this review is to describe each microencapsulation process and to determine different factors that influence the performance of resulting microcapsules. Microencapsulation efficiency, as well as the limitation of each technique, are investigated, and optimum operating conditions of each process are highlighted. Furthermore, up-to-date studies of multifunctional PCMs microcapsules development with enhanced performances and new application directions are also presented. This review aims to be a useful guide for future researches dealing with low thermal energy storage applications of PCMs microcapsules.