There is provided a physical property measuring method for a TFT liquid crystal panel, includes an impedance setting step of setting the impedance between the source and drain of a TFT of the TFT liquid crystal panel to be less than or equal to a predetermined value, a voltage application step of applying a voltage that cyclically varies to a liquid crystal layer of the TFT liquid crystal panel. And the method further includes a physical property measuring step of measuring a transient current flowing through the liquid crystal layer to which the voltage that cyclically varies is applied in the voltage application step to measure physical properties of the liquid crystal layer.