In this study, the microencapsulated phase change material (MPCM) slurry of 25% mass concentration is synthesized as a storage medium in a latent thermal energy storage (LTES) tank. Two independent heat exchange coils, namely, HE1 and HE2, are installed in the tank for cooling charging and consequent discharging processes. A variable speed stirrer is used in the tank to enhance heat transfer between MPCM slurry and water in coins. A direct mixing stratified water tank is used to restrain the fluctuation of chilled water temperature at HE1 inlet. The MPCM temperature variation and heat transfer characteristics of the cooling charging process are investigated in detail with comparison with pure water. Results indicate that the freezing process significantly increases the temperature difference between HE1 outlet and inlet, and the heat transfer capacity between MPCM slurry and supply chilled water is enhanced. A significant temperature gradient is observed in the LTES tank at a stirring rate of 0 rpm. The high viscosity of MPCM slurry is unfavorable to the convection flow. At a stirring speed of 200 rpm, the volumetric cooling storage capacities of MPCM slurry are 1.74 and 1.16 times that of water and MPCM at 0 rpm, respectively. Compared with that of the stored pure water in the tank, the overall cooling charging rate of MPCM slurry is not very competitive in this experimental study.