This invention relates to a pearlescent pigment, which is composed of flaky alumina substrate particles produced by a hydrothermal process and coat layers formed on the flaky substrate particles and composed of at least one metal oxide including at least a titanium oxide. The metal oxide has an average particle size of from 1 to 500 nm. According to this invention, it is possible to provide a pearlescent pigment, which has wholly uniform photoluminescence and an elegant and silky feel in combination and can fully satisfy artistry as desired.
