NOVELTY - Producing a fine particle dispersion, is claimed, where the fine particle (P) comprises one type or not less than two types of a metal, an alloy, and/or a metallic compound, and has a mean particle diameter of 1-150 nm for primary particles. The fine particle having a surface with at least a part of it coated with a polymer dispersing agent (D), is dispersed in a mixed organic solvent. The weight ratio of (D/P) between the polymer dispersing agent and the fine particles in the dispersion is 0.001-10.    USE - The process is useful for producing a fine particle dispersion (claimed), which is useful as: a formation material for a surface mounted component such as an electrically conductive circuit, a bump, a via and a pad; a magnetic element for a high density magnetic storage medium and an antenna; and a catalyst material for a gas modification filter and an electrode of a fuel cell.    ADVANTAGE - The fine particle dispersion exhibits superior dispersibility and storage stability.    DETAILED DESCRIPTION - Producing a fine particle dispersion, is claimed, where the fine particle (P) comprises one type or not less than two types of a metal, an alloy, and/or a metallic compound, and has a mean particle diameter of 1-150 nm for primary particles. The fine particle having a surface with at least a part of it coated with a polymer dispersing agent (D), is dispersed in a mixed organic solvent. The weight ratio of (D/P) between the polymer dispersing agent (D) and the fine particles (P) in the dispersion is 0.001-10. The fine particle is dispersed into one of (i) a mixed organic solvent (S1), which contains 50-95 vol.% of at least an organic solvent (A) having an amide group, and 5-50 vol.% of a low boiling point organic solvent (B) having a boiling point of 20-100 degrees C at a normal pressure, (ii) a mixed organic solvent (S2), which contains (A) and 5-50 vol.% of an organic solvent (C) having a boiling point of higher than 100 degrees C at a normal pressure and comprising an alcohol and/or a polyhydric alcohol having one or not less than two hydroxyl groups in a molecule, or (iii) a mixed organic solvent (S3), which contains 50-94 vol.% of (A), 5-49 vol.% of (B), and 1-45 vol.% of (C).