A thin film is provided that primarily comprises titanium oxide and includes Ti, Ag and O. The thin film contains 29.6 at % or more and 34.0 at % or less of Ti, 0.003 at % or more and 7.4 at % or less of Ag, and oxygen as the remainder thereof and has a ratio of oxygen to metals, O/(2Ti+0.5Ag), of 0.97 or more. The thin film has a high refractive index and a low extinction coefficient. In addition, the thin film has superior transmittance, minimally deteriorates in reflectance, and is useful as an interference film or a protective film for an optical information recording medium. The film may also be applied to a glass substrate to provide a heat reflective film, an antireflective film, or an interference filter. A method of producing the thin film is also disclosed.