The present invention relates to a water-based black ink composition comprising a water-soluble black dye (A) exhibiting ozone fastness and a condensate compound (B) of 4,4'-dinitrostilbene-2,2'-disulfonic acid and aminobenzenes or a reduction product (C) thereof. Said ink composition is suitable for use in ink-jet recording, and realizes neutral hue and black color of high printing density. Further, a printed matter obtained is excellent in ozone gas fastness, light fastness, moisture fastness and color rendering properties. Still further, storage stability as a recording liquid is excellent.