Using chitosan as the shell material and Toddalia asiatica (L.) Lam extract as the core material, microcapsules of chitosan-coated Toddalia asiatica (L.) Lam extracts were prepared. The microcapsules were added to waterborne topcoats to investigate the effects of different content and MToddalia asiatica(L.) Lam extracts:Mchitosan (MT:MC) on the performance of waterborne coatings on poplar surfaces. Under different MT:MC of microcapsules, the content of microcapsules in the coating was negatively correlated with the glossiness, reflectivity, and adhesion of the coating. The addition of microcapsules reduced the liquid resistance of the coating to citric acid and improved the ethanol and cleaning agent resistance of the coating. The hardness, impact resistance, and roughness of the coatings increased gradually with the increase in microcapsule content. The content of microcapsules was positively correlated with the Escherichia coli and Staphylococcus aureus antibacterial performance of coatings, and the coatings had a slightly higher antibacterial rate against Staphylococcus aureus than Escherichia coli overall. The poplar surface coating with 5.0% microcapsules and MT:MC of 4.0:1 was excellent: the gloss was 5.30 GU, the light loss rate was 62.22%, the color difference ΔE was 22.93, the hardness was HB, the impact resistance was grade 3, the adhesion was grade 2, the roughness was 2.022 µm, the resistance to ethanol and cleaning agent was grade 2, and the resistances to Escherichia coli and Staphylococcus aureus were 74.21% and 82.01%, respectively. The results of the study provide a technical reference for the application of antibacterial waterborne coatings on wood surfaces.