The present invention provides a thin polarizing plate having an optical compensation layer capable of improving visual angle characteristics, realizing a high contrast, preventing interference irregularities and thermal irregularities, suppressing a color shift, exhibiting a preferable color reproducibility, and effectively preventing light leak in the black display. It is also possible to provide a liquid crystal panel and an image display device using such a polarizing plate having an optical compensation layer. The polarizing plate having the optical compensation layer includes a polarizer, a first optical compensation layer, and a second optical compensation layer in this order. The first optical compensation layer has a refractivity distribution of nx > ny = nz and exhibits wavelength distribution characteristics in which the in-plane phase difference Re1 becomes smaller as the wavelength becomes shorter and the in-plane phase difference Re1 is 90 to 160 nm. The second optical compensation layer is a film layer having a refractivity distribution of nx = ny > nz, an in-plane phase difference Re2 0 to 20 nm, and a phase difference in the thickness direction Rth2 30 to 300 nm.