A color developing structure capable of achieving multi-hued color through a simple process, and a method of producing the same are provided. In the color developing structure formed on a surface of a base material: the color developing structure has a rectangular shape in plan view, and is formed of a concavo-convex structure having a plurality of convexities with different heights and a laminated film including a plurality of layers laminated on the concavo-convex structure; the plurality of layers adjoining in a lamination direction are made of materials that transmit light of the same wavelength band and have different refractive indices with respect to light of the wavelength band; and the plurality of layers have about the same thickness.