To provide an advertisement effect analysis system allowing easy analysis of an advertisement result for an advertisement published on a paper medium.

This advertisement analysis system is provided with a first means generating a handout of the paper medium carrying an advertisement, an identification code including a distribution date and the like, and questionnaire contents, a second means creating an advertisement formed by attaching the identification code to a part of the advertisement, a third means receiving the identification code and the questionnaire contents to store them in a database, a fourth means receiving the identification code, which is transmitted from a portable terminal of the use when the identification code attached to the advertisement created by the second means is read by the portable terminal of a user, returning the questionnaire contents matching the received identification information to the portable terminal as the transmission source, and receiving an answer to the questionnaire contents, and a fifth means outputting the information analyzing the advertisement effect from the received answer contents and user attribute information.