The hue variable retroreflective sheet of the present invention includes: a surface layer (1) composed of at least one layer; and a plurality of retroreflective elements (3, 4, 5) that are positioned beneath the surface layer, wherein the retroreflective elements (3, 4, 5) retroreflect incident light toward a light source direction, at least one layer of the surface layer (1) is an optical coherent layer that changes in color depending on a point of view, and in which an optical coherent coloring material with a core material having a surface that is covered with one or more substantially transparent coating layer is dispersed, and mirror-reflects the incident light toward a direction opposite to the light source side, at least one layer of the retroreflective sheet is a colored layer containing a coloring material that colors retroreflected light, and the retroreflected light and the mirror-reflected light provide different hues. Thereby, the present invention provides the hue variable retroreflective sheet that provides hues in two or more different colors by the interference of light in daylight, provides retroreflected light in color with a hue that is different from the hue in the daylight when light is projected at night, and provides a color that has still different from the hue of the retroreflected light on the other side of an incident light beam.