Old Hall School, in Wellington, is carrying out the project so pupils can create a record of how they felt during 2020, and how they and their school responded to the coronavirus crisis.
The project is all the more poignant for the school after its 2020 year six leavers gifted the capsule as part of a farewell present.
Headteacher Martin Stott said: “We have started this term feeling positive about the future but also aware that the children are living through a significant time in history which has brought about its very own unique challenges.
“In planning for this new term we looked to bring back as much normality as was possible and for school to feel a happy and comfortable place to be.
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"But we also looked for ways in which the children could voice their feelings about this year and what they and their families have been and are going through.
“The time capsule project is an empowering way to do that.
"We are consistently following and adapting to Government guidance and I am very proud of how our school community has responded to all the changes and unprecedented challenges we have had this year.
“Parents have been really supportive and we are heartily encouraged by the support and loyalty they have shown in working with us throughout this year to ensure the children have seen minimum disruption to their education.
“Through extensive online resources our pupils were able to access lessons and the standard of work throughout lockdown was very impressive.”
Mr Stott said he wanted to reassure families that children were very quick to adapt to changes so long as the environment they were in was positive about those changes.
“I think the time capsule will be a great way to give them a sense of strength and confidence in what they have achieved this year and what they have coped with," he added.
“It also feels very fitting our year six leavers are involved in this, even though they have now started at their new senior schools.
"It was their year that missed out on various events that would have created special memories for them before leaving school.
"Now they get a chance to help record such a landmark year in history with us and we like to think no matter where our pupils go they will always feel that special connection to Old Hall.”