An ND filter including an alternating layer which is composed of two films being alternately stacked and formed on a transparent substrate, the two films having different refractive indexes, wherein the alternating layer has a substrate-side reflected light attenuating multi-layered film and a transmittance adjusting multi-layered film formed on the transparent substrate in the stated order from the transparent substrate side, and the light absorption amount of the substrate-side reflected light attenuating multi-layered film is set to be 20% or more and 30% or less. Thus, an ND filter having satisfactory front surface reflection characteristics and rear surface reflection characteristics can be stably obtained while the transmittance of 4% or more and 11% or less is maintained with respect to the entire visible region (400 nm or more and 700 nm or less).