Disclosed herein is an anti-reflective film including: a hard coating layer; and a low-refractive layer containing a binder resin, and hollow inorganic nanoparticles and solid inorganic nanoparticles which are dispersed in the binder resin, wherein the low-refractive layer includes a first layer containing at least 70 vol % of the entire solid inorganic nanoparticles and a second layer containing at least 70 vol % of the entire hollow inorganic nanoparticles, and at the time of fitting polarization ellipticity measured by ellipsometry for the first layer or/and the second layer included in the low-refractive layer using a Cauchy model represented by the following General Equation 1, the second layer satisfies a predetermined condition.