The present invention relates to a process for producing a water-based pigment dispersion which includes a first step of mixing (A) an emulsion composition including a water-insoluble polymer having a specific weight-average molecular weight and containing a salt-forming group, an organic solvent having a specific solubility in water, a neutralizing agent and water, with (B) a pigment to obtain a preliminary dispersion having a content of non-volatile components of from 5 to 50% by weight and a weight ratio of the organic solvent to water [organic solvent/water] of from 0.1 to 0.9; a second step of continuously dispersing the preliminary dispersion by using a media-type dispersing device and continuously separating the resultant dispersion from media particles; and a third step of further dispersing the resultant dispersion by using a homogenizer, as well as a water-based ink for ink-jet printing containing the water-based pigment dispersion which not only satisfies a high optical density but also exhibits excellent gloss and rubbing resistance.