The present invention provides a liquid ester composition which is obtained by esterifying a branched isostearic acid such as 2-(1,3,3-trimethyl)butyl-5,7,7-trimethyl octanoic acid with dipentaerythritol, and said liquid ester composition having a viscosity at 25.degree. C. of 100,000 to 2,000,000 mPas; hydroxyl value of 10 to 160; and cloud point of less than 5.degree. C. This liquid ester composition has pigment dispersibility and hydrating ability that polybutene, which is one of the raw materials of oil compositions for cosmetic compositions, does not have, together with their abilities to sustain feeling of cosmetic film and improve gloss and moisture feeling of cosmetic compositions and shape retaining ability of lipsticks and the like equal to those containing polybutene.