Provided are an aqueous dispersion composition, a backsheet for a photovoltaic module, a method of preparing the same, and a photovoltaic module. Since the aqueous dispersion composition includes a fluorine-based polymer, a pigment and an aqueous dispersion binder, a backsheet for a photovoltaic module using the aqueous dispersion composition is prepared without a toxic organic solvent, and thus is environmentally friendly and economical. In addition, as the aqueous dispersion binder is used, a chalking phenomenon in which the pigment projected on a surface of the backsheet is easily detached may be prevented, thereby enhancing both productivity and quality.
