Provided are a dispersion composition and a cosmetic material containing the dispersion composition, comprising: oryzanol； a surfactant containing a sterol group represented by the structural formula (1)； and a phospholipid. In the structural formula (1), EO represents an ethylene oxide group, PO represents a propylene oxide group, BO represents a butylene oxide group； R represents a sterol group chosen from among a phytosteryl group, a cholesteryl group, a phytostanyl group, and a cholestanyl group； and l + m + n is between 5 and 80 inclusive. R-O-(EO)l-(PO)m-(BO)n-H Structural formula (1)
