A water-dispersed coating composition comprising (1) a dispersion of a water-dispersible form of an acrylic graft polymer containing carboxyl groups and hydroxyl and/or amide groups in an aqueous medium containing 60 to 90% by weight of water, and (2) an amino resin. The water-dispersible form of this polymer is obtained by neutralizing at least 50% of the carboxyl groups of the polymer with a basic substance. Prior to neutralization, the polymer has an acid value of 15 to 40 and a glass transition temperature of -10.degree. C. to 70.degree. C., and is produced by polymerizing (A) an acrylic copolymer and (B) a mixture of an alpha,beta-ethylenically unsaturated carboxylic acid and another copolymerizable unsaturated monomer. The copolymer (A) and the mixture (B) is selected so that either one of them has hydroxyl and/or amide groups and the difference between the acid value of the copolymer (A) and that of the mixture (B) is from 25 to 200. The present invention also provides a water-dispersed coating composition comprising a dispersion of a water-dispersible form of a self-curable acrylic graft polymer without an amino resin.