Provided are a pressure-sensitive adhesive, a polarizing plate, and a liquid crystal display device. The pressure-sensitive adhesive may be used to provide a polarizing plate which has a tensile modulus that varies in a thickness direction, and for example, which has a smaller thickness and a lighter weight, and also satisfies all of the physical properties required for the polarizing plate such as durability, water resistance, workability and light leakage preventability, and a liquid crystal display device including the same.