The present invention relates to a pigment water dispersion containing a pigment, a crosslinked polymer and water, in which the crosslinked polymer is prepared by crosslinking a carboxy group-containing polymer with a crosslinking agent, and has an acid value of not less than 70 mgKOH/g and not more than 300 mgKOH/g; and the pigment water dispersion further contains a formaldehyde-releasing compound. The pigment water dispersion of the present invention is excellent in storage stability even when being stored under high-temperature conditions for a long period of time.