Abstract: The present invention provides: a production process for an aqueous coating composition including a resin emulsion, which has excellent storage stability, and besides, excellent sagging performance, adhesion and water resistance. The production process for an aqueous coating composition comprises the steps of: beforehand mixing 20 to 50 parts by weight of an aqueous acrylic resin solution with 100 parts by weight of a resin emulsion, wherein the aqueous acrylic resin solution and the resin emulsion are in a state of not including an organic solvent; and adding an organic solvent to a mixed liquid obtained by mixing the resin emulsion and the aqueous acrylic resin solution.