A polarizing plate is provided with an optical compensation film and includes a polarizing plate, an adhesive layer A, an optical compensation film, and an adhesive layer B adhered to one another, wherein the polarizing plate comprises a polyvinyl alcohol polarizing film containing a dichroic substance, and wherein the elastic modulus of the adhesive layer A of the polarizing plate with an optical compensation film is not greater than 0.06 MPa. Furthermore, a liquid crystal display is provided in which the polarizing plate with an optical compensation film is furnished on at least one side of the liquid crystal cell. Thus, display irregularities can be improved.