The present invention provides a powder coating composition which is suitable for precoated steel plates. The powder coating composition has excellent storage stability (e.g. blocking resistance) and provides a cured film having good weather resistance and a good balance of hardness and processability. The powder coating composition comprises;(I) 95 to 70% by weight of a polyester resin having a glass transition temperature of 40.degree. to 70.degree. C., prepared from (i) and acid component containing at least 80 mole % of an aromatic dicarboxylic acid with (ii) a polyol component which comprises(a) at least 50 mole % of neopentyl glycol, and(b) 1 to 10% by weight of a diol selected from the group consisting of a linear chain C.sub.8 -C.sub.16 alkylene diol, 2-methyl-1,8-octane diol and a mixture thereof, and(II) 5 to 30% by weight of a curing agent.