A resin composition for an aqueous coating material that includes a propylene-butene resin component and/or propylene-ethylene-butene resin component (A), and a (meth)acrylic resin component (B), wherein the mass ratio between the propylene-butene resin component and/or propylene-ethylene-butene resin component (A) and the (meth)acrylic resin component (B) is within a range from 15:85 to 75:25. Also disclosed are a method for producing such a resin composition and an aqueous coating material. The present invention is able to provide a resin composition for an aqueous coating material that is useful as a binder within an aqueous coating material that uses no organic solvents or chlorine compounds, and yet exhibits excellent adhesion to polyolefin-based resins and is capable of forming a coating film that is resistant to discoloration and exhibits favorable resistance to the oils contained within gasoline, cosmetic products and foodstuffs and the like, and is also able to provide a method for producing the resin composition and an aqueous coating material that uses the resin composition.