To provide a latent image printed matter which is favorable in the visibility of a latent image even if the latent image is formed in a non-image line region.

A solid-printed reflecting layer of a brilliant first color element having light and shade flip-flop properties is formed to at least part of a base material. A brilliant uneven image line group in which a plurality of dented image lines or protruding image lines of a constant width are arranged at a first pitch and in a first direction is formed to the reflecting layer. A latent image composite image including two or more pieces of significant information composed of a second color element lower in reflectance than the first color element is formed on the brilliant uneven image line group. In the latent image printed matter, first significant information and second significant information each appear solely to be visually checked according to an angle formed by inclining the base material.