A rubber composition having excellent heat resistance and a pneumatic tire produced by using this rubber composition are provided. The rubber composition has, in a curve exhibiting a change in dynamic storage modulus during elevation of temperature, an intersection of an extrapolation line of a portion in which the dynamic storage modulus is approximately constant before rapidly decreasing at temperatures higher than 100° C. and an extrapolation line of a portion in which the dynamic storage modulus rapidly decreases, at a temperature of 170° C. or higher.