To provide a modified cellulose acylate resin composition which is useful for obtaining a molded article having excellent moisture resistance and excellent stability to deformation (particularly deformation stability at high temperatures and high humidity), and its molded article.

The resin composition is constituted of a hydroxy acid-modified cellulose acylate which is constituted of a cellulose acylate and a graft chain formed by graft polymerization of a hydroxy acid component to the hydroxyl group of this cellulose acylate and has a ratio of the graft polymerized hydroxy acid component in terms of the hydroxy acid of an average of 0.1-5 moles per mole glucose unit constituting the cellulose acylate and a thermoplastic resin (a rubber-containing styrenic resin, an aromatic polycarbonate resin, an aromatic polyester resin, an aliphatic polyester resin or the like).

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