A novel polarizing plate is disclosed. The polarizing plate comprises at least a polarizing film, a pressure-sensitive adhesive layer, and an optical compensation sheet, having an absolute value of Y, defined by the following equation, equal to or smaller than 6.0×10−4: Y=−7.0×105×Cn+4.3×10−13×E−1.34×10−3 where Cn (1/Pa) is photoelastic modulus of said pressure-sensitive adhesive layer and E (Pa) is modulus of elasticity of said optical compensation sheet.