To provide a wet developer which is capable of improving fixability, while ensuring a sufficient heat-resistant storage property. The wet developer contains toner particles composed of a colorant and a binder resin, which are dispersed in a non-volatile carrier solution by using a dispersant. As the binder resin, a polyester resin, which has an alcohol component containing a mixture of an ethylene oxide adduct of bisphenol A and a propylene oxide adduct of bisphenol A, with a ratio thereof being 1:19 to 10:10 (weight ratio), is used.