The present invention provides a thermal recording material, which is easy to manufacture and has excellent productivity, water resistance, heat resistance (running stability) and chemical resistance, by solving various problems caused by using a crosslinking agent for a protective layer.The thermal recording material of the present invention comprises a protective layer mainly composed of a resin emulsion (a) comprising a copolymer resin emulsion (b) containing (meth)acrylonitrile and a vinyl monomer copolymerizable therewith, and having an SP value (solubility parameter) of 12.0 or more, a glass transition temperature (Tg) of 10 to 70.degree. C., and a minimum film-forming temperature (MFT) of 5.degree. C. or less, and a polyolefin copolymer resin emulsion (c).