A retroreflective sheet comprising, in order, a binder layer in the back side of which a plurality of microspheres, arranged in a monolayer, are partially embedded, a focusing layer underlying some of said microspheres, and a reflective layer underlying said focusing layer and underlying microspheres which do not have a focusing layer therebehind, wherein said focusing layer has a film thickness selection coefficient x in the range of 0.16 to 0.95 as defined by equation (II) of the following equations (I) and (II):
- ##EQU4## wherein f is the coefficient for the optimum layer thickness of said focusing layer, d is the diameter of said microspheres, h is the thickness of said focusing layer, n.sub.b is said refractive index of the binder layer, n.sub.g is the refractive index of the microspheres, and n.sub.s is the refractive index of said focusing layer.