The present invention provides an anti-reflection film which has excellent optical properties at a low production cost. The anti-reflection film of the present invention has a low refractive index hard coat layer having low refractive index particles and a binder matrix which is formed by curing an ionizing radiation curable material on a transparent substrate. It is a feature of the anti-reflection film of the present invention that the low refractive index hard coat layer has two optically distinguishable layers from the transparent substrate side, namely, an intermediate layer and a localized layer wherein the low refractive index particles are localized, and the refractive index and optical thickness of the localized layer are in the range of 1.29-1.43 and in the range of 100-200 nm, respectively.