A retroreflective sheet includes: a retroreflective layer (20) including a plurality of retroreflective elements (24) on one surface; a back face layer (40) provided to face the surface of the retroreflective layer (20) on the side of the retroreflective elements (24) and including a bonding portion (42) bonded to the retroreflective elements (24); and a plurality of particles (30) disposed between the retroreflective elements (24) and the back face layer (40). The bonding portion (42) is continuously formed to surround a plurality of capsule portions (46) in plan view. Voids (32) are formed between the retroreflective elements (24) and the back face layer (40) in the plurality of capsule portions (46).