Abstract: A series of phase change Lyocell fibers with different phase change microcapsule (PCM) addition amounts (mass fractions) were prepared by blending PCMs with cellulose spinning liquid via dry-jet wet-spinning technology. The influence of the PCM addition amount on properties of the fibers was analyzed using field-emission scanning electron microscopy, infrared spectrometry, fiber strength meter, and differential scanning calorimetry. The results showed that PCM was uniformly dispersed in the fibers. With the increase of PCM addition amount, the fiber surface became rougher, the fiber breaking strength decreased, and the breaking elongation, enthalpy, and thermal cycling stability all increased. At a PCM addition amount of 30%, the fiber exhibited a breaking strength of 2.98 cN/dtex, a melting enthalpy of 30.1 J/g, and a crystallization enthalpy of 31.9 J/g. Dyeing tests revealed that, compared to the pure Lyocell fiber (without PCM), the fiber with 30% PCM addition amount exhibited lower dye uptake and fixation rates. Nevertheless, it still had excellent dyeing performance.