The present invention provides the following aqueous coating composition. The aqueous coating composition comprises resin particles (A) having an average particle diameter of 300 to 1000 nm, a polyoxyalkylene group-containing polyol (B) having a number average molecular weight of 300 to 2000 and/or a diester compound (C), and a crosslinking agent (D); wherein the total solids content of the polyoxyalkylene group-containing polyol (B) and the diester compound (C) is 5 to 25 mass % based on the total solids content of the resin particles (A), the polyoxyalkylene group-containing polyol (B), the diester compound (C), and the crosslinking agent (D).