A liquid developer which has excellent preservability, storage stability for a long period of time, and fixing characteristic of toner particles and which is also harmless to the environment is provided. The liquid developer contains an insulation liquid and toner particles dispersed in the insulation liquid. The insulation liquid contains a saturated fatty acid and at least one component selected from a group comprising a linolenic acid component, a linoleic acid component and an oleic acid component. The liquid developer may contain an antioxidizing agent and an oxidation polymerization accelerator for accelerating an oxidation polymerization reaction of the linolenic acid component, the linoleic acid component or the oleic acid component during a fixing process.