Perovskite　quantum　dots　(PQDs)　with　high　quantum　efficiency　and　broad　spectral　tunability　are　promising　luminescent　materials　and　show　potential　applications　in　light-emitting　diodes　(LEDs).　However,　PQDs　degrade　rapidly　in　atmosphere　moisture　due　to　their　easy　hydrolysis　and　undergo　undesirable　spectral　changes　associated　with　ion　exchanges.　Herein,　we　encapsulated　blue,　green　and　red　fluorescence-emitting　all-inorganic　PQDs　respectively　with　hydrophobic　solid　paraffin　to　obtain　multi-color　luminescent　paraffin-PQD　composites　(P-PQDs).　The　P-PQD　composites　not　only　preserve　the　bright　luminescence,　but　also　greatly　improve　the　water　resistance　of　PQDs.　Moreover,　the　anion　exchange　phenomenon　is　effectively　inhibited　for　the　isolation　of　PQD　nanoparticles　by　a　solid　paraffin　layer.　Finally,　blue,　green　and　red　luminescent　P-PQD　microparticles　have　been　synthesized　and　show　promising　applications　in　LEDs.