Provided is a retardation element, including: a transparent substrate; and a birefringent multilayer structure formed of layered structures stacked over the transparent substrate and each formed of first and second birefringent layers. In each layered structure, a relationship between average thicknesses (t1) and (t2) of the first and second birefringent layers satisfies any of formulae (1) and (2) below, and an angle (β) formed between first and second line segments representing principal axes of refractive index anisotropy of the first and second birefringent layers satisfies formula (3) below when the first and second line segments are projected on the transparent substrate such that an end A of the first line segment and an end B of the second line segment at a side of the transparent substrate coincide with each other, and condition (4) is satisfied, 0