A water base erasable ink composition which comprises:(a) water as a solvent in amounts of 50-90% by weight;(b) a coloring agent dispersed or dissolved in water in amounts of 1-30% by weight;(c) an aqueous emulsion of at least one nonvolatile or only slightly volatile compound which is liquid at room temperatures and is selected from the group consisting of aliphatic carboxylic acid esters, higher hydrocarbons and higher alcohols in dry amounts of 1-20% by weight; and(d) a water soluble resin or a water-solubilized resin which is film forming at room temperatures in amounts of 0.1-15% by weight.The water soluble resin or water-solubilized resin may be displaced by an aqueous emulsion or a hydrosol of water insoluble resins.