(1) A metal oxide dispersion for a dye-sensitized solar cell, which contains metal oxide fine particles, a binder composed of a polymer compound having an action to bind to the fine particles and a solvent; (2) a method for producing a photoactive electrode for a dye-sensitized solar cell by coating a dispersion containing the above-mentioned binder and metal oxide fine particles on a sheet-shaped electrode; (3) a photoactive electrode for a dye-sensitized solar cell, obtained by the method, which electrode has metal oxide containing the above-mentioned binder and metal oxide fine particles; and (4) a dye-sensitized solar cell with the above-mentioned photoactive electrode. According to the present invention, a porous metal oxide film can be formed without performing sintering at high temperatures, so that a flexible, inexpensive dye-sensitized solar cell can be obtained in which a resin material which has high transparency, is inexpensive and light in weight and has freedom in shape can be used as a sheet-shaped electrode substrate.