To provide a high-transmission polarization conversion element for display which can be used for a large-area display such as 100×100 mm or larger and can be used in a thickness of 1 mm or smaller, and to provide a bright display, constituted by combining the high-transmission polarization conversion element and a display that utilizes optical activity.

The polarization conversion element is composed of a light-condensing means which is disposed on the incident light side and condenses incident light; a splitting means which is disposed on the incident light side and splits the incident light into a p-polarized light and an s-polarized light vertical to each other; and an antireflection means, which is disposed between the light condensing means and the splitting means and prevents reflection of the incident light and a modulation means, which is disposed on the side of outgoing light from the splitting means, changes the polarization direction of at least one side of the p-polarized light and s-polarized light and makes both the polarization directions to coincide with each other. Therein, the splitting means splits the incident light into p-polarized light and s-polarized light, by utilizing birefringence and directs the p-polarized light and s-polarized light into the same direction.