Provided is a water-based lubricating coating agent for a metal material, capable of carrying out a chemical conversion treatment and a lubrication treatment at the same time, which makes it possible to achieve excellent lubricity even in plastic working, press molding, and the like, and at the same time, operability (e.g., process shortening, sludge reduction).The water-based lubricating coating agent having pH of 2.0 to 6.5 for a metal material is obtained by blending: at least one lubricating component other than black-based solid lubricants; and at least one chemical conversion component selected from the group consisting of a phosphoric acid compound, an oxalic acid compound, a molybdic acid compound, a zirconium compound, and a titanium compound, the concentration of the lubricating component is 5 mass % or more in mass ratio to the total solid content mass in the lubricating coating agent, and the concentration of the chemical conversion component is 0.3 to 8 mass % when the total mass of the lubricating coating agent is regarded as 100 mass %.