Novel N-alkylaspartyl dipeptide ester derivative, such as N- ÄN- Ä3-(3-hydroxy-4-methoxyphenyl)-3-methylbutylÜ-L- alpha -aspartylÜ-L-phenylalanine 1-methyl ester, including that in the salt form, which can be used as an excellent sweetening agent, is provided. The novel derivative is low in calories and moreover is more excellent particularly in a sweetening potency in comparison with conventional sweetening agents, and therefore enables furnishment of a sweetening agent, food or the like product containing the derivative.