A polarizing plate capable of achieving high reliability and a method for manufacturing a polarizing plate. The polarizing plate includes a transparent substrate that is transparent to light of a used wavelength band; a metal grid in which a reflective layer made of a metal is arranged to extend in a predetermined direction on the transparent substrate at a pitch finer than a wavelength of light of the used band; a metal subgrid made of the same metal as the reflective layer formed on the metal grid at a pitch finer than that of the metal grid; and an absorbing layer made by filling a light absorbing material into a recess of the metal subgrid.