The present invention relates to a releasing agent dispersion for toner including a releasing agent, and a dibasic acid containing an alkyl group and/or an alkenyl group or a salt of the dibasic acid, wherein at least one acid group of the dibasic acid is a carboxyl group; and a toner for electrophotography which is produced by aggregating and unifying releasing agent particles and resin particles contained in a dispersion produced by mixing or contacting the releasing agent dispersion with a resin dispersion. The releasing agent dispersion for toner according to the present invention has a good emulsifiability and a good emulsification stability, and is capable of producing a toner which is excellent in productivity and low-temperature fixing property.