To provide an optical compensation film excellent in display quality which has an optical anisotropic layer made of a liquid crystal compound on a substrate manufactured according to melt-casting method using no solvent upon the film forming, to provide a polarizing plate using the optical compensation film and to provide a liquid crystal display device using the polarizing plate.

The optical compensation film has the optical anisotropic layer made of at least one layer of the liquid crystal compound on the substrate manufactured according to a melt-casting method by heat-melting the film constituent material comprising at least one kind of stabilizer, plasticizer and cellulose resin at a melting temperature Tm of ≥120°C and ≤250°C. The optical compensation film satisfies the following characteristics (a), (b): (a) heat decomposition temperature Td(1.0) of the plasticizer included in the substrate>Tm (wherein Td denotes heat decomposition temperature and Tm denotes melting temperature), and (b) retardation values of the film satisfy the following respective ranges; 0 nm≤Ro≤20 nm and 70 nm<Rth≤400 nm.