This invention provides a method for forming brilliant multi-layered coating film excelling in brilliance, which comprises the steps of applying an effect pigment-containing, water-borne base coating composition (A1) containing inorganic fine particles having an average primary particle diameter not more than 1 .mu.m and having a solid content of at least 15 mass % but less than 45 mass % onto a substrate to form a first base coating film; successively applying onto the first base coating film an effect pigment-containing, water-borne base coating composition (A2) having a solid content of at least 5 mass % but less than 15 mass %; and curing the two coating films by heating.