The invention provides a hologram fabrication process, characterized by comprising steps of fabricating a computer-generated hologram (CGH) having amplitude information and phase information recorded by computer operation on a given recording surface, irradiating the computer-generated hologram (CGH) with the first reconstructing illumination light (2) to generate the first diffracted light (3) from the computer-generated hologram (CGH) thereby reconstructing a first reconstruction image (O′), simultaneously entering the first diffracted light (3) and the first reference light (4) in a first-stage hologram recording material (11) faced away from the first reconstructed image to record a first-stage hologram (11) in it, irradiating the recorded first-stage hologram (11) with the second reconstructing illumination light (5) to generate the second diffracted light (6) from the first-stage hologram (11) thereby reconstructing the second reconstruction image (O″), and simultaneously entering the second diffracted light (6) and the second reference light (7) in a second-stage hologram recording material (21) located near the second reconstructed image (O″) to record the second-stage hologram (21) in it as a reflection or transmission type volume hologram.