To provide an aqueous lubricating agent for a plastic working of metal, capable of being used only by applying it, not requiring washing after the working and the treatment of its waste material, and having an excellent lubricating characteristic not different from that of the conventional chemical conversion.

This aqueous lubricating agent for the plastic working of the metal is obtained by incorporating 30-80 wt.% (based on its solid portion, the same is applied hereinafter) metal phosphate salt, 5-30 wt.% 2-thiobenzothiazole compound, 5-30 wt.% metal soap and 1-25 wt.% surfactant as essential components.