A wave plate capable of increasing a birefringence quantity and being made into a thin film, and a method of manufacturing the wave plate. The wave plate includes a substrate, whereon convex portions and concave portions are formed with a period less than or equal to the wavelength of light that is used therewith, columnar portions, wherein fine grains of a dielectric material are layered by oblique vapor deposition of a dielectric material from two directions, in a columnar shape on the convex portions in the vertical direction relative to the surface of the substrate, and interstices that are located on the concave portions and disposed between the columnar portions. Using birefringence from the fine grains of the dielectric material and birefringence from the concave/convex portions of the substrate allows increasing the birefringence quantity and making a thin film.