A touch panel includes a first substrate, a second substrate, a polarizing plate and a compensating plate. A first conductive layer is formed on the first substrate. The second substrate is formed so as to face the first substrate and has a second conductive layer facing the first conductive layer at a certain interval. The polarizing plate having a heat shrinkage ratio larger than that of the first substrate is laminated on a side, which is opposite to the second substrate, at the first substrate. The compensating plate having substantially an identical heat shrinkage ratio with that of the first substrate is laminated on a side, which is opposite to the first substrate, at the polarizing plate.