A mechanical pencil, includes an external cylinder, a lead delivery mechanism disposed in the external cylinder, the lead delivery mechanism having a lead-fastening chuck which fastens a lead and moves back and forth in the external cylinder to deliver the lead toward a front end of the external cylinder, a lead holder disposed before the lead delivery mechanism in the external cylinder to gently hold a lead, and a guide member arranged between the lead-fastening chuck and the lead holder in the external cylinder and always urged backwardly toward the lead-fastening chuck to protect a lead portion between the lead-fastening chuck and a lead holding portion of the lead holder.