The present invention provides a heat-sensitive recording material having a support, a heat-sensitive color-developing layer containing a leuco dye and a developer, and a protective layer, the heat-sensitive color-developing layer and the protective layer being formed on the support, wherein carboxylic-acid-modified polyvinyl alcohol with a weight average degree of polymerization of 100 to 400 and a modification degree of 0.2 mol % to 1.0 mol % is used as a dispersing agent for dispersing the leuco dye.