Abstract: A mixed fuel comprising powdered coal, oil, water, and a dispersion stabilizer is described. The dispersion stabilizer is comprised of water-insoluble fine particles having a colloid-forming ability. More specifically, the stabilizer is comprised of (1) a water-insoluble natural polymeric compound, (2) a water-insoluble polymeric compound prepared by a chemical treatment or dissolution and regeneration of a natural polymeric compound, (3) a water-insoluble synthetic polymeric compound, or (4) a water-insoluble inorganic hydroxide or oxide, or graphite. This mixed fuel has good fluidity and storage stability.