Thermochromic films have been deposited by magnetron sputtering technique on different substrates. The crystallinity and surface morphology of the films have been characterized. Characterization result shows that the films are of perovskite structure. Composition analysis is performed and the result indicated that the element composition of the film can be close to its stoichiometric ratio. Temperature-dependent reflectivity and emissivity are studied. Reflectivity spectra show a downward trend with increasing temperature. Emissivity of the film is large at high temperature and it decreases sharply upon cooling. The emissivity increment at 123–373 K can approach 0.43 at 1.4 Pa sputtering pressure environment, which is attractive for thermal control application in spacecraft.