Provided is an aqueous resin composition that is capable of forming a film having excellent balance in solvent resistance, water resistance, flexibility, stretchability, and strength. An aqueous resin composition of the invention, contains: a composite resin (A); and an aqueous medium (B), in which the composite resin (A) has a polymer (A1) unit having a unit represented by Formula (1) and a polymer (A2) unit represented by Formula (3). [R1s each represent a hydrogen atom, a halogen atom, a phenyl group, or a methyl group. R2 represents a hydrogen atom or a hydrocarbon group having 1 to 5 carbon atoms. R7 represents a ml-valent hydrocarbon group having 1 to 20 carbon atoms. R8 represents one type of R10[-L1-(R11—O—)n1]n2—; —O(—R11—CO—O)n3—; —O(—R11—O—CO—R11—CO—O)n4—; —O(—R11—O—CO—O)n5—; —O(—R12)n6—O—; —O—R11—O—, and a group obtained by combining such groups.]