A decolorizable image forming material comprising a color former, a developer and a decolorizer, the decolorizer comprising a highly amorphous phase separation inhibitor and a slightly amorphous phase separation inhibitor. A cyclic sugar alcohol is used as the highly amorphous phase separation inhibitor, and a non-aromatic cyclic compound having five-membered or larger ring substituted by a hydroxyl group or a derivative of a cyclic sugar alcohol is used as the slightly amorphous phase separation inhibitor. The decolorizable image forming material can be decolored easily after image formation by a solvent and the decolored state of which can be maintained stably, thereby making it possible to reuse paper sheets.