A polarization component, capable of efficiently reflecting an obliquely transmitted light beam toward a light source without degrading the transmission-polarization property of a perpendicular incident light beam, is provided. A C-plate having an oblique retardation of at least .lamda./8 with respect to a light beam inclined by at least 30.degree. is disposed between at least two reflective circular polarizer layers whose selective reflection wavelength bands of polarized light overlapping each other. A combination of a reflective linear polarizer and a quarter wavelength plate may be used instead of the reflective circular polarizer. Alternatively, a combination of two reflective linear polarizer layers and two quarter wavelength plate layers (Nz.gtoreq.2) disposed therebetween can provide a similar effect. Further, a combination of two reflective linear polarizer layers and a half wavelength plate (Nz.gtoreq.1.5) disposed therebetween may be used.