Some recent advances in the production of hollow polymer particles at room temperature via inverse suspension polymerization are presented. Although suspension polymerization has been used for years to produce solid microspheres, there is a lack of information regarding its application in the production of polymer microcapsules when an intraparticle phase separation is induced during the course of polymerization. As a model system, the inverse suspension copolymerization of acrylamide, neutralized methacrylic acid, and N,N-methylenebisacrylamide in cyclohexane at low temperature was investigated. The effects of the composition of the disperse phase and stabilizer on the final particle morphology were studied. The results were interpreted by means of a qualitative model. Due to the low temperature of the reaction and the use of water-soluble monomers, the investigated suspension polymerization can be also regarded as a potentially attractive technique to encapsulate biologically active materials.