[Problem] The objective of the present invention is to provide a preparation technique with which cloudiness and the formation of a precipitate can be suppressed and excellent appearance characteristics can be provided even when diclofenac and a tocopherol and/or derivative thereof are included in a pharmaceutical composition for external use that includes water. [Solution] Provided is a pharmaceutical composition for external use that includes diclofenac and/or a salt thereof, a tocopherol and/or derivative thereof, and water, wherein by mixing in menthol, cloudiness and the formation of a precipitate due to diclofenac and/or a salt thereof and a tocopherol and/or derivative thereof can be suppressed, and excellent appearance characteristics can be provided.