Provided is a method of forming a microsphere having a structural color, which includes providing a composition for generating a structural color including a curable material and magnetic nanoparticles dispersed in the curable material, forming an emulsion by adding the composition for generating a structural color to an immiscible solvent, arranging the magnetic nanoparticles located in the emulsion droplet of the curable material in a one-dimensional chain structure by applying a magnetic field to the emulsion, and fixing the chain structure by curing the emulsion droplet.