To provide an Ag alloy reflection film and a translucent reflection film of an optical recording medium such as an optical recording disk (CD-RW, DVD-RAM) and to provide an Ag alloy sputtering target for forming these reflection films.

The reflection film consists of an Ag alloy having component composition containing 0.005 to 0.1 mass% Ca and 0.002 to 0.1 mass% Eu, 0.005 to 0.2 mass% Ir and 0.01 to 0.5 mass% Pd, 0.005 to 0.2 mass% Re and 0.01 to 0.5 mass% Pd, or 0.005 to 0.2 mass% sum total of Ir and Re and 0.01 to 0.5 mass% Pd and the rest consisting of Ag and an inevitable impurity.

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