A method of producing a hologram element is disclosed that is able to prevent spread of a polymerization reaction and light leakage during exposure with interference light, and improve productivity in mass production. The hologram element is for transmitting, reflecting, diffracting, or scattering incident light, and includes a pair of substrates, an isolation member between the substrates that forms an isolated region, and a photo-sensitive recording material sealed in the isolated region. The hologram element includes a periodic structure formed by exposing the recording material to interference light. The interference light is generated by two or more light beams, or by using a master hologram. The recording material is formed from a composite material including a polymerized polymer or a polymerized liquid crystal. The periodic structure is formed by exposing the recording material to the interference light to induce the polymerization reaction and phase separation in the composite material.