Corn starch was chlorinated using methanesulfonyl chloride in dimethylformamide (DMF) and then substituted with polycaprolactone (PCL) in various solvents [dimethylsulfoxide (DMSO), water and dimethylacetamide (DMAc)] containing a catalyst [sodium hydroxide (NaOH) or lithium chloride (LiCl)] to improve water resistance. The reaction yield based on the product weight was highest (85%) when DMAc and LiCl were used. Fourier transform infrared (FTIR) spectra showed that starch was monosubstituted with PCL in the aqueous NaOH solution, whereas it was to crosslink by PCL in the case using DMAc and LlCl. The intrinsic viscosity of the products in DMSO supports these trends. By introducing the hydrophobic PCL onto starch, solvent resistance of the substituted starches to water and other aqueous media increased. The crosslinked starch displayed higher water resistance than the monosubstituted starch.