The present invention provides a dispersion of microparticulate titanium oxide that can generate a natural finish feeling, which includes a feeling of transparency, and has good long-term stability and an excellent UV protective effect in both UVA and UVB regions. The present invention is a dispersion of microparticulate titanium oxide characterized in that the microparticulate titanium oxide with the average major axis of 30 to 100 nm and the average minor axis of 8 to 50 nm is dispersed, by maintaining the average size of dispersed particles to be 80 to 110 nm, in a hydrophobic dispersion medium. In the dispersion of microparticulate titanium oxide, the content of silicone oil relative to the total hydrophobic dispersion medium is preferably 10 to 100 weight %. Furthermore, it is preferable that the dispersion of microparticulate titanium oxide contains a biterminally-siliconized polyglycerin as a dispersant. The dispersion of microparticulate titanium oxide can be preferably contained in a cosmetic.
