Provided is a pharmaceutical composition that exhibits superior storage stability even if mixed with a high concentration of L-menthol. The pharmaceutical composition comprises a component (A), a component (B), a component (C), a component (D) and a component (E) as detailed hereinafter, and has a cloud point of 30-75 DEG C. Component (A): L-menthol. Component (B): At least one substance selected from the group consisting of medium-chain fatty-acid triglycerides, medium-chain fatty acids and salts of medium-chain fatty acids. Component (C): A nonionic surfacant having a HLB of at least 10. Component (D): A polyhydric alcohol comprising at least three hydroxl groups within a molecule; and/or a poly(oxyalkylene) glycol. Component (E): Water.本發明提供一種即便於調配有高濃度l-薄荷腦之情形時保存安定性亦優異之醫藥組合物。本發明之醫藥組合物含有下述成分(A)、下述成分(B)、下述成分(C)、下述成分(D)及下述成分(E),且濁點為30~75℃。成分(A):l-薄荷腦成分(B):選自由中長鏈脂肪酸三甘油酯、中長鏈脂肪酸及中長鏈脂肪酸之鹽所組成之群中之至少一種成分(C):HLB為10以上之非離子性界面活性劑成分(D):分子中具有3個以上羥基之多元醇及/或聚(氧伸烷基)二醇成分(E):水