To obtain an aqueous emulsion adhesive which has a suitable flowability, is excellent in adhesion to plastics and in resistances to thermal creep and water, has high initial adhesive force and adhesive strength, and can be suitably used especially for bonding the same or different kinds of materials such as wood, paper, cloth, and plastics.

This emulsion adhesive contains, as the main ingredient, a homopolymer comprising at least one kind of monomer units selected from the group consisting of acrylate monomer units, methacrylate monomer units, aromatic vinyl monomer units, and conjugated diene monomer units or a copolymer mainly comprising at least one kind of monomer units selected from the group consisting of the above kinds of monomer units, The dispersion of the emulsion adhesive is stabilized by a water-soluble polymer compound containing alcoholic hydroxyl groups and having a wt. average mol.wt. of 2,000 or higher. A part of the water-soluble polymer compound is grafted onto the homopolymer or the copolymer, the graft ratio being 0.5-30 wt.%.