The present invention relates to a water-based cosmetic wherein a hydrophobic powder is directly dispersed in the water phase of the water-based cosmetic, the water-based cosmetic having the excellent smoothness, water resistance and cosmetic durability characteristic of hydrophobic powders, while maintaining the refreshing sensation of use that is inherent in water-based cosmetics. The invented water-based cosmetic is characterized by comprising: (A) 0.1 to 5 mass% of a polyether-modified silicone having an HLB (Si) of 5 to 14； (B) one or more hydrophilic thickeners； (C) a polyol and/or an ethyl alcohol； and (D) one or more hydrophobic powders chosen from among metal oxides hydrophobically treated without using a metal soap, hydrophobic organic powders and silicone powders； wherein the (D) hydrophobic powder is dispersed in the water phase.
