A polishing pad capable of maintaining a high level of dimensional stability upon moisture absorption or water absorption and providing high polishing rate includes a polishing layer of a polyurethane foam having fine cells, wherein the polyurethane foam includes a cured product of a reaction of (1) an isocyanate-terminated prepolymer (A) that includes an isocyanate monomer, a high molecular weight polyol (a), and a low molecular weight polyol, (2) an isocyanate-terminated prepolymer (B) that includes a polymerized diisocyanate and a polyethylene glycol with a number average molecular weight of 200 to 1,000, and (3) a chain extender.