There is provided a polarizing plate, including: a polarizing layer having a thickness not greater than 20 μm; a first protective film stacked on one surface of the polarizing layer, with a first adhesive layer formed from an active energy ray curing adhesive being interposed; and a second protective film stacked on the other surface of the polarizing layer, with a second adhesive layer formed from a water-soluble adhesive being interposed. There are also provided a polarizing plate with a pressure sensitive adhesive layer, a substrate having a polarizing plate bonded thereto, a liquid crystal display device, and an organic electroluminescence display device, all of which include the polarizing plate. Preferably, at least one of the first protective film and the second protective film has a moisture permeability not higher than 1000 g/m2/24 hr.