Kevin Doherty, minister responsible for the Provincial Capital Commission, has unveiled the capsule which stands just over half a metre tall.
It has a dome-shaped top, mirroring the shape of the dome of the Saskatchewan legislature, and the names of all current MLAs inscribed on the sides.
A committee will decide what should go into the capsule when it is placed in the building's cornerstone on Oct. 11.
Doherty says some Saskatchewan residents have already suggested a Roughriders flag and an iPad.
Doherty says one item that will go in is the Queen's Diamond Jubilee flag that Prince Charles presented to Premier Brad Wall in May.
An old time capsule made out of copper was opened last December to mark the building's anniversary. The legislature officially opened in October 1912, although the time capsule was laid in 1909 during construction.