Controlled release NPK compound fertilizers were prepared by means of in situ polymerization of monomers on the surface of fertilizer granules at room temperature. Methacrylate, α-methyl acrylic acid, and ethylene dimethylacrylate were used as monomers, Dibenzoyl peroxide as initiator, and cobalt naphthenate, and triethyl amine as promoters. The structures of coating materials were characterized by IR spectra. The thermogravimetric analysis result indicated that the coating materials were of good thermal stability. The mean thickness of single coating measured with screw gauge was ca. 140 μm. The morphologies of uncoated and coated fertilizer granules analyzed by using scanning electron microscopy were changed from porosities and gullies to hills and plain. The release rate of coated compound fertilizers in water could be controlled by the hydrophicity and thickness of coating. The increase in coating hydrophicity caused the increase in release rate of fertilizer. The increase in thickness of coating slowed the release rate.