Abstract: A pressure-sensitive adhesive composition comprising a water-soluble polymer A, a water-insoluble component B, a water-incompatible solvent C that dissolves the water-insoluble component B and is incompatible with water, a water-soluble plasticizer D, and water, wherein the pressure-sensitive adhesive composition in a dry state has water solubility according to Technical Association of The Pulp and Paper Industry Useful Method 213 (TAPPI UM 213). Also disclosed are a method for producing a pressure-sensitive adhesive composition according to the present invention, comprising the steps of: preliminarily preparing a true nonaqueous solution of a water-insoluble component B in a water-incompatible solvent C, and mixing the true nonaqueous solution with an aqueous solution of at least one member selected from the group consisting of a water-soluble polymer A and a water-soluble plasticizer D, and a pressure-sensitive adhesive and a pressure-sensitive adhesive tape that use the composition.