Disclosed is an active energy ray-curable ink composition comprising a coloring agent, a binder resin, and a radically polymerizable varnish and/or a radically polymerizable monomer as main components. The coloring agent is a modified pigment wherein the surface of a pigment (A) is provided with a polymer (P) which is obtained by polymerizing a polymer (B), which is soluble in nonaqueous solvents, with at least one polymerizable unsaturated monomer (C), which is originally soluble in nonaqueous solvents but becomes insoluble or poorly soluble after polymerization. Also disclosed is a printed matter which has a coating film obtained by curing and drying the active energy ray-curable ink composition.