The present invention provides a method for producing an aqueous dispersion of pseudopolyrotaxane that enables the production, by an industrially advantageous method for an aqueous dispersion of pseudopolyrotaxane in which the inclusion amount of a cyclodextrin does not increase with time and which can provide a crosslinked polyrotaxane having sufficient stretchability and breaking strength. The present invention relates to a method for producing an aqueous dispersion of pseudopolyrotaxane containing pseudopolyrotaxane particles in which a polyethylene glycol is included in a cavity of a cyclodextrin molecule in a skewered manner, the method including: an inclusion step of mixing a polyethylene glycol and a cyclodextrin in an aqueous medium to include the polyethylene glycol in a cavity of a cyclodextrin molecule, wherein in the inclusion step, a basic compound is added.