The present invention provides a resin-coated metal pigment capable of achieving both of water resistance of a water base paint and chemical resistance of a film at a high level, and a water base paint using the resin-coated metal pigment. The present invention provides a method for producing a resin-coated metal pigment including an adsorption step of bringing a solution or a dispersion liquid of a phosphate ester component (A) into contact with a metal pigment to prepare a phosphate ester adsorbing metal pigment, a slurry preparation step of preparing a slurry for polymerization obtained by dissolving a polymerization component (B) therein, and a coating step of polymerizing the polymerization component (B) to form a resin coating layer on the surface of the phosphate ester adsorbing metal pigment; a resin-coated metal pigment obtained by the method; and a water base paint using the resin-coated metal pigment.