To provide a micro-lens substrate wherein a higher contrast ratio can be obtained when used in a liquid crystal panel and the like. A micro-lens substrate 1A includes a first substrate 2 with concaves for microlenses having a plurality of first concaves 31 and first aligment marks 71 formed on a first glass substrate 29, a second substrate 8 with concaves for microlenses having a plurality of second concaves 32 and second aligment marks 72 formed on a second glass substrate 89, a resin layer 9, microlenses 4 consisting of double convex lenses formed of a resin filled in between the first and second concaves 31 and 32, and spacers 5.