To obtain an aqueous emulsion having excellent shelf viscosity stability and, at the same time, excellent water resistance and resistance to boiling water adhesive force.

This aqueous emulsion composition comprises (A) an aqueous emulsion obtained by mixing 0.01-3 pts.wt. carboxyl group-containing ethylenically unsaturated monomer with 100 pts.wt. vinyl ester type monomer and subjecting the resulting mixture to emulsion polymerization when the emulsion polymerization of a vinyl ester type monomer and a carboxyl groupcontaining ethylenically unsaturated monomer by using a polyvinyl alcohol type polymer as the dispersing agent and (B) an aluminum compound.