The present invention relates to a method of manufacturing a reflective polarizing film for a liquid crystal display device in which cholesteric liquid crystal layers having different selective light-reflecting wavelengths are laminated in the laminated coating method, thus a forming liquid crystal film that covers a visible light region and 1/4.lamda. retardation film are attached to the liquid crystal film. In this case, two or more cholestric liquid crystal layers having different selective light-reflecting wavelengths are laminated in order from the shorter wavelength to the longer wavelength in the laminated coating method. Further, during the lamination, orientation layers are laminated between the liquid crystal layers to maximize the selective reflection characteristic of the cholesteric liquid crystal.