To provide a highly reflective coating material composition for forming a coating film exhibiting reflectance of a level usable as a liquid crystal display reflector plate and having excellent display performance.

The highly reflective coating material composition contains titanium oxide and silica in total of 80-100 vol.% of total pigment, wherein a ratio by volume of titanium oxide and silica is shown by (titanium oxide:silica)=(90:10)-(30:70), pigment volume concentration (PVC; expressed in terms of solid portion) is 30-70 vol.% and silica has 0.5-10 m average secondary particle diameter.