An object of the present invention is to provide a liquid developer for electrophotography or electrostatic recording, demonstrating good particle uniformity, preservation stability, fixing property, and electrophoretic migration property. To achieve the aforementioned object, the present invention provides a liquid developer that contains colored resin particles granulated by utilizing the coacervation method, from at least an acid carbon black as pigment, binder resin containing acid group-containing resin, basic group-containing pigment dispersion agent, pigment dispersion aid which is an acid pigment derivative and accounts for 0.1 to 10.0 parts by mass per 100 parts by mass of the pigment, and granulating aid, wherein the colored resin particles are dispersed in an insulating solvent by means of a particle dispersion agent.