The present invention provides a transparent conductor that is excellent in conductivity, transparency, and low-reflection property and does not cause defects such as a moiré pattern; and a touch panel including the transparent conductor. The transparent conductor of the present invention includes an anti-reflection film provided on a surface with projections formed at a pitch equal to or shorter than the wavelength of visible light; and metal fine particles each having a particle size equal to or smaller than the pitch of the projections and being placed in bottom portions of gaps between the projections, the metal fine particles placed in the gaps between the projections constituting mesh conductive portions. The touch panel of the present invention includes the above transparent conductor.