To obtain a stable water-based wax dispersion contg. no solvent by using an ultrafine powder wax and a dispersing agent.

This stable water-based wax dispersion consists of 5-65wt.% ultrafine powder wax (A) and 0.01-7wt.%, pref., 0.03-5wt.% polymeric hydrocarbon derivative (B) as a dispersing agent. As the ultrafine powder wax (A), an amide-, a montan- or a polyethylene-wax or a mixture thereof is pref. In addition, more pref, the mean particle size of the wax is 1-50μm.