An object of the present invention is to provide a dispersion of a zirconium element-containing metal oxide having high transparency and low viscosity even at high concentration. The present invention relates to a method of producing a zirconium element-containing metal oxide dispersion, and the production method includes a step of heating a slurry containing a zirconium element-containing compound as a metal element-containing compound to perform a hydrothermal reaction, in which the heating in the hydrothermal reaction step is performed at a temperature rising rate of 90° C./hour or more.