A resist composition, includes: (A) a resin of which solubility in an alkali developer increases under an action of an acid; (B) a compound capable of generating an acid upon irradiation with actinic rays or radiation; (C) a hydrophobic resin; and (D) a solvent, wherein a difference between a weight average molecular weight of the resin (A) and a weight average molecular weight of the hydrophobic resin (C) satisfies the following formula: weight average molecular weight of resin (A)-weight average molecular weight of hydrophobic resin (C).gtoreq.about 3,000; and a pattern forming method uses the resist composition.