Provided are a polarizing plate having excellent optical properties and durability, and a method for manufacturing the polarizing plate. The polarizing plate includes: a transparent substrate transparent to light in a used wavelength band; lattice-shaped protrusions arranged on the transparent substrate at a pitch shorter than the wavelength of light in the used wavelength band, extending in a predetermined direction, and having a reflective layer, a first dielectric layer, an absorbing layer, and a second dielectric layer in this order; a dielectric portion consisting of a dielectric discontinuously formed on a surface of the lattice-shaped protrusions and a surface of a bottom floor between the lattice-shaped protrusions; and a water-repellent portion formed on a surface of the dielectric portion and having water-repellent properties.