A heat sensitive recording material which comprises a support having thereon a heat sensitive layer containing at least color former-contained microcapsules and a color developer, with the heat sensitive layer being formed using a colorless or light colored precursor of a basic dye as the color former, and according to a process which comprises preparing a coating composition by mixing the color former-contained microcapsules with an emulsified dispersion prepared by dissolving at least the color developer into an organic solvent which is slightly soluble or insoluble in water, and then dispersing the solution in an emulsified condition, coating the resulting composition on the support, and then drying the coat, whereby the heat sensitive layer comes to acquire both excellent transparency and high sensitivity to heat.