Each of a pair of substrates respectively comprises an electrode and a rubbed alignment film on one surface, while the other surface is provided with a polarizer. The substrates are placed so that the surfaces provided with the alignment films are opposed to each other, and the area between the substrates is filled with a medium to form a material layer. Then, a medium made of a negative-type liquid crystalline compound sing a photopolymerizable monomer and a polymerization initiator is injected into the material layer held between the substrates. Further, ultra violet irradiation is performed with the medium exhibiting a liquid crystal phase, so that the photopolymerized monomer is polymerized, thus forming a polymer chain. In this manner, obtained is a display element, that causes change in degree of optical anisotropy in response to application of electric (external) field, which display element can be driven by a lower intensity electric (external) field.