A yellow water-based pigment dispersion liquid is provided that includes pigment particles dispersed with a significantly small particle size, that has excellent dispersion stability, that causes less precipitation even at low viscosity, and that provides high gloss when the dispersion liquid is used as a main component of inkjet recording ink. In order to produce the water-based pigment dispersion liquid, it is important to add, as a kneading aid, an acetylene glycol surfactant having a specific structure and an HLB value of 8 to 12 to a mixture containing a bis-acetoacetallylide pigment, a styrene-acrylic acid copolymer having an acid value of 145 to 175, a basic compound, and a humectant and then to knead the resultant mixture to obtain a pigment dispersion. By dispersing the pigment dispersion in a water-based medium, a water-based pigment dispersion liquid for inkjet recording having the characteristics above can be produced.