[PROBLEMS] To provide a skin external preparation which is capable of sustainedlyreleasing a fat-soluble drug (retinol, tocopherol acetate, etc.) while controllingthe initial penetration speed and thereof and, therefore, shows reduced skinirritation, a refreshing texture, a high safety and a high stability. [MEANSFOR SOLVING PROBLEMS] A skin external preparation containing a fat-solubledrug-containing wax microdispersion composition, wherein the fat-solubledrug-containing wax microdispersion composition comprises a solid or semisolidwax, a nonionic surfactant, an aqueous dispersion medium and a fat-soluble drug,the ratio by mass ofthe nonionic surfactant/the wax is 1.0 or more, and the waxcontaining the fat-soluble drug enclosed therein is finely dispersed in a solidor semisolid state in the aqueous dispersion medium.
