A two-component developer comprising a magnetic carrier having a carbon black-containing resin-coating layer and a toner composed of a carbon black-containing resin composition is disclosed. A styrene resin, an acrylic resin or a styrene-acrylic copolymer resin is selected as each of the carrier-coating resin and the toner-forming resin, and the carbon black content A in the carrier-coating layer and the carbon black content B in the toner-forming layer satisfy requirements represented by the following formulae: ##STR1## Namely, by adjusting the carbon black contents A and B within specific ranges relatively to each other, a two-component developer which is well-balanced between the frictional chargeability characteristic and the electric resistance is provided.