To provide a method of analyzing a lipid component in serum which comprises: a first total acid concentration measurement step of electrochemically measuring the total acid concentration in a serum-containing analyte solution in the presence of a water-soluble quinone derivative; a fatty acid production step of allowing a lipid component in the serum to react with one or more kinds of enzymes which specifically act on the lipid component to produce a fatty acid; a second total acid concentration measurement step of electrochemically measuring the total acid concentration in the serum-containing analyte solution in the presence of the water-soluble quinone derivative; and a lipid component concentration calculation step of calculating the serum concentration of the lipid component based on the total acid concentration measured in the first total acid concentration measurement step and the total acid concentration measured in the second total acid measurement step.