An optically anisotropic element comprises a discotic compound. The discotic compound has an oriented discotic plane. The discotic compound has a molecular structure represented by the formula (I) of D(--O--CO--CR.sup.1.dbd.CR.sup.2--X--R.sup.3).sub.n. In the formula (I), D is a discotic core, n is an integer of 3 to 20, each of R.sup.1 and R.sup.2 is hydrogen, a halogen atom or an alkyl group, X is --O--, --S-- or --NR--, and R.sup.3 is an alkyl group or an aryl group. A polymerizable discotic compound having an oriented discotic plane can be polymerized to form an optically anisotropic element. Alignment of the oriented discotic plane is fixed by polymerization. A new discotic compound is also disclosed.