[Problems] An object of the present invention is to provide: thermochromic color-memory composition which effectively expresses a property of being capable of interchangeably memorizing and retaining colors and is thus applicable to various fields; and thermochromic memory microcapsule pigment encapsulating the same.[Means for Solution] Provided are thermochromic color-memory composition and thermochromic color-memory microcapsule pigment encapsulating the same, the thermochromic color-memory composition comprising: (a) a component composed of an electron-donating color-developing organic compound; (b) a component composed of an electron-accepting compound; and (c) a reaction medium which comprises an ester compound represented by the following Formula (1) and controls color reaction between the components (a) and (b): (wherein, R represents an alkyl group having 4 to 22 carbon atoms, a cycloalkylalkyl group having 5 to 12 carbon atoms, a cycloalkyl group having 4 to 8 carbon atoms or an alkenyl group having 4 to 22 carbon atoms; X represents a hydrogen atom, an alkyl group having 1 to 4 carbon atoms, an alkoxy group having 1 to 4 carbon atoms or a halogen atom; and n represents 0 or 1).