PURPOSE: To provide an aqueous dispersion containing respective specific amounts of a pigment, a surfactant and a specific pigment dispersing agent, capable of coloring to the inside of leather and giving a colored leather having excellent light fastness, abrasion resistance and washing fastness.

CONSTITUTION: This aqueous dispersion of pigment contains (A) 100 pts.wt. of a pigment such as ultramarine blue, red iron oxide, insoluble azo pigment or phthalocyanine pigment, (B) 5-70 pts.wt. of a surfactant such as nonionic surfactant or anionic surfactant and (C) 0.1-50 pts.wt. of a pigment dispersing agent having basic group, e.g. a compound of formula [P is a residue of an organic pigment such as phthalocyanine pigment, azo pigment or benzimidazolone pigment; X is direct bond, SO2NH, CH2NH, CH2NHCOCH2NH or CONH; R1 and R2 are each H or a 1-5C alkyl; R1 and R2 may together form a (1-5C alkyl-substituted) 5- or 6membered heterocyclic group which may contain N or O; (m) is 0-10; (m) is not zero when X is direct bond; (n) is 1-4].