A polymer dispersion type liquid crystal element having a sufficient reflectance and having a layered structure in which a refractive index changes periodically inside, as well as a manufacturing method thereof. The polymer dispersion type liquid crystal element is manufactured by applying laser interference light to a polymerizable composition containing a polymerizable compound having a photo-dimerizable structure and low molecular liquid crystals to conduct polymer phase separation and then applying polarized light to manufacture a polymer dispersion type liquid crystal element in which low molecular liquid crystals are oriented.