Disclosed is an aqueous bonding composition comprising: (A) a sugar syrup; (B) an inorganic acid ammonium salt; and (C) a metal salt. The sugar syrup (A) preferably comprises at least one selected from waste molasses, ice molasses, and crude saccharide. The metal salt (C) preferably comprises at least one selected from potassium salts, calcium salts, sodium salts, and magnesium salts. The aqueous bonding composition is excellent in balance among performances such as bending strength, bending strength under wet condition, water-absorption thickness expansion coefficient, and peeling strength while being capable of bonding at a comparatively low temperature, and is particularly useful to produce a wood-based material. Further, disclosed is a wood-based material obtainable by using the composition.