The purpose of the present invention is to provide a technique for formulating a two-layer separation-type ophthalmic solution in which, during storage, an aqueous layer and an oil-containing layer containing squalane are separated from each other, wherein it is possible to homogeneously disperse the oil-containing layer in the aqueous layer while suppressing foaming by shaking the ophthalmic solution before administration, and the homogeneous dispersed state is maintained in a stable manner at least until administration. A two-layer separation-type ophthalmic solution containing squalane and water, wherein hyaluronic acid and/or a salt thereof and polyvinyl alcohol are contained in the ophthalmic solution and the polyvinyl alcohol content is set to 0.025 to 0.1 w/v %, whereby it is possible to homogeneously disperse the oil-containing layer in the aqueous layer while suppressing foaming by shaking the ophthalmic solution before administration, and to maintain the homogeneous dispersed state in a stable manner at least until administration.