The present invention provides a SMC of which excessive thickening with time is suppressed while of which sufficient initial thickening by an isocyanate-based thickener is maintained, particularly of which a decrease in flowability at the time of molding to be easily actualized in the case of containing an aromatic vinyl compound such as styrene is suppressed, and which exhibits excellent storage stability and moldability, a molding material for obtaining the SMC, and a fiber-reinforced composite material using the SMC. The invention provides a molding material including: a matrix resin composition containing the following Component (A), the following Component (B), the following Component (D) and the following Component (E); and the following Component (C), in which a proportion of the Component (E) with respect to 100 parts by mass of a sum of the Component (A) and the Component (B) is 0.002 part by mass or more and 0.08 part by mass or less: Component (A): a compound having either or both of a hydroxyl group and a carboxyl group and a polymerizable unsaturated group, Component (B): an aromatic vinyl compound, Component (C): a reinforcing fiber bundle having a fiber length of 5 mm or more and 120 mm or less, Component (D): an isocyanate compound, and Component (E): a metal chelate compound.