The invention discloses a polaroid sheet with a subwavelength grating structure, which comprises a transparent substrate, a dielectric grating, a first metal layer and a second metal layer. The dielectric grating is provided with ridges and grooves which are periodically arranged at intervals, the first metal layer is covered on the ridges of the dielectric grating, the second metal layer is covered in the grooves of the dielectric grating, and the period of the dielectric grating is less than the wavelength of incident light. The invention is characterized in that: a high refractive index dielectric layer is arranged between the transparent substrate and the dielectric grating, and the refractive index of the high refractive index dielectric layer is between 1.6 and 2.4. The transmission efficiency and the extinction ratio of TM light of the polaroid sheet are improved by adding the high refractive index dielectric layer between the transparent substrate and the dielectric grating. In the whole visible light waveband, the polaroid sheet has high transmission efficiency, high extinction ratio, and wide incident angle range. In the process, a nano-imprint technique is adopted to process and produce, the production process is simple and convenient and is easy to operate, an etching process is not needed, and the processing cost is reduced.