It is an environmental friendly and energy saving passive humidity regulation technology to use humidity control materials, which has been widely used in indoor humidity control, food packaging, cultural relic protection and other fields. The chitosan, liquid paraffin and graphene oxide were used as the microcapsule core materials. The surfactant-like hydrophilic and oleophilic chitosan-graphene oxide complex was formed by the electrostatic interaction between chitosan and graphene oxide. And the emulsion micelle was obtained emulsified by the combined assistance of emulsifier and chitosan-graphene oxide complex. Then using the emulsion micelle as template, the gelatin-based natural polymer/graphene oxide composite microcapsules (M-GO) were fabricated by the crosslinking of glutaraldehyde. The influence of graphene oxide dosage and emulsifying pH value on the micelle size and stability of emulsion was investigated. The microcapsules were obtained under the optimal emulsifying condition. The effect of graphene oxide on the structure and moisture adsorption/desorption performance of microcapsules were studied. The as-prepared microcapsules were characterized by Fourier transform infrared spectra (FT-IR), scanning electron microscopy (SEM), transmission electron microscopy (TEM) and N2 adsorption-desorption isotherms. The humidity-regulation performance was studied by measuring the moisture absorption and desorption rates. The results showed that emulsion micelle size was uniform with good stability when the dosage of graphene oxide was 3 mL (1 mg/mL) and the emulsifying pH value was 5.10. The results indicated that the microcapsules were successfully prepared by the interaction between graphene oxide, chitosan and gelatin. The microcapsule without graphene oxide showed a closed microsphere structure. After introducing graphene oxide, the microcapsule M-GO exhibited an open hollow shell and had larger surface area and pore volume, which was beneficial to adsorption moisture. The saturated moisture content and adsorption/desorption rate of M-GO in different humidity conditions were better than those of microcapsules without graphene oxide. It indicated that the introduction of graphene oxide can improve humidity-regulation performance by changing the microstructure and increasing the surface area for adsorbing moisture.