To obtain an aqueous adhesive composition not causing wrinkles on a paper material in spite of being an aqueous substance by making the composition include a starch, a carboxylic acid-containing polymer and a polyfunctional alcohol and making a water content have a specific amount.

This composition comprises (A) a starch (e.g. wheat flour starch, a potato starch, dextrin, etc.), (B) a carboxylic acid-containing polymer (e.g. polyacrylic acid, etc.), or its neutralized substance, (C) a polyfunctional alcohol (e.g. sorbitol, ethylene glycol, glycerol, etc.), and has <40 wt.% water content. The composition preferably is composed of 30-80 wt.% of the component A 1-50 wt.% of the component B and 0.1-30 component C. The component can be mixed with a viscosity modifier and an alcohol such as ethanol, isopropanol, etc. besides the components.