To provide a liquid dispersant for preparing a magnetic powder liquid that is low in initial viscosity, that causes no gelation or solidification during preservation, or much compounding amount of effective components and reduced in the compounding amount of water.

A tertiary butylbenzoate is formulated with the liquid dispersant for preparing the magnetic powder liquid composed of a nonionic surfactant with an HLB of 8-14, a silicone-defoaming agent, a higher fatty acid, an alcohol and water in an amount of 0-25 wt.%, the compounding ratio of the surfactant is set at least to 8 wt.% and the compounding ratio of water is set to 45-65 wt.% to adjust the viscosity of the liquid dispersant for the magnetic powder liquid to 15-65 cP.

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