The present invention provides a method of producing, in an industrially advantageous manner, an ethylene/vinyl alcohol copolymer aqueous dispersion which has a high concentration and is excellent in long-term storage stability and in which the resin particles in the aqueous dispersion obtained are small in particle diameter. The method of the present invention relates to producing an ethylene/vinyl alcohol copolymer aqueous dispersion, which comprises: (1) a step of dissolving an ethylene/vinyl alcohol copolymer in a mixed solvent comprising 5 to 65% by weight of water and 35 to 95% by weight of a water-soluble organic solvent, with heating, (2) a step of cooling a solution obtained in step (1) to precipitate the ethylene/vinyl alcohol copolymer, (3) a step of reducing a concentration of the water-soluble organic solvent in the mixed solvent to a level lower than 35% by weight relative to the total amount of the water and water-soluble organic solvent by adding water, and (4) a step of distilling off the water-soluble organic solvent.