Disclosed is an optical compensatory sheet which has nx, ny and nz satisfying the condition of nx>nz>ny wherein nx, ny and nz represent main refractictive indices, and wherein the direction of nx is on the plane of the sheet, the direction of ny is inclined from the plane of the sheet and the direction of nz is inclined from the normal of the sheet, the directions of ny and nz crossing each other at a right angle, and a liquid crystal display provided with the optical compensatory sheet.