When a light-emitting element having an intermediate conductive layer between a plurality of light-emitting layers is formed, the intermediate conductive layer can have transparency; and thus, materials are largely limited and the manufacturing process of an element becomes complicated by a conventional method. A light-emitting element according to the present invention is formed by sequentially stacking a pixel electrode, a first light-emitting layer, an intermediate conductive layer (including an electron injecting layer and a hole-injecting layer, one of which is island-like), a second light-emitting layer and an opposite electrode. Therefore, the present invention can provide a light-emitting element typified by an organic EL element in which a range of choice of materials that can be used as the intermediate conductive layer is broadened extremely, and which can realize a high light-emitting efficiency, a low power consumption and a high reliability, and further a display device using the light-emitting element.