The present invention provides a rubber composition which has excellent processability owing to its low rubber viscosity during kneading, despite containing a white filler, and which further has excellent fuel economy and excellent abrasion resistance. Also provided is a pneumatic tire formed from the rubber composition. The present invention relates to a rubber composition including: a rubber component, a white filler, and a compound represented by the formula (1) below, wherein X represents —CONH— or —COO—; R1 represents a C7-C23 alkyl group or a C7-C23 alkenyl group; R2 represents a C1-C3 alkylene group; and R3 and R4 each independently represent a hydrogen atom, a C1-C3 alkyl group, or a C1-C3 hydroxyalkyl group, and at least one of R3 or R4 is the hydroxyalkyl group.