A water lubrication type bearing material contains 12 wt. % to 25 wt. % of a tetrafluoroethylene-perfluoroalkyl vinyl ether copolymer resin (PFA resin), 18 wt. % to 33 wt. % of a carbon fiber, and a remainder including a polytetrafluoroethylene (PTFE) resin and/or a modified PTFE resin. The bearing material has excellent wear resistance and sliding characteristics for a water lubrication type bearing.