Aqueous pigment dispersions which contain organic or inorganic pigments and water-soluble oxalkylation products of compounds which are obtainable by condensation of aromatic compounds, containing phenolic OH groups, or their ethers, especially lower alkyl ethers, with formaldehyde and amines which contain at least 2 NH groups which are reactive towards formaldehyde, or derivatives of such oxalkylation products are suitable for pigmenting natural or synthetic materials.