The present invention is to provide a metal particle dispersion which has low viscosity and excellent dispersibility and dispersion stability, and in which the precipitation of the metal particles is inhibited. Disclosed is a metal particle dispersion comprising metal particles, a dispersant and a solvent, wherein the metal particles contain one or more selected from the group consisting of gold, silver, copper, nickel, platinum, palladium, molybdenum, aluminum, antimony, tin, chromium, lanthanum, indium, gallium and germanium, and wherein the dispersant is a graft copolymer having at least one constitutional unit represented by the following general formula (I) and at least one constitutional unit represented by the following general formula (II), and in which at least part of nitrogen sites of the constitutional units represented by the general formula (I) each form a salt with at least one selected from the group consisting of a halogenated hydrocarbon, an acidic phosphorus compound represented by the following general formula (V), and a sulfonic acid compound represented by the following general formula (VI): (symbols shown in the general formulae (I), (II), (V) and (VI) are as described in the Description.)