The optical properties of hexagonal InN crystal are investigated by reflectance, absorption and photoluminescence method. With use of the theoretical formula of these spectra, both of conduction and valence band properties are analysed. As a result, the average effective electron and hole mass values at the band edge are found to be about 0.046(±0.01)m 0 and 0.2(±0.05)m 0 , respectively. The photoluminescence emitted from the cleaved edge was strongly polarized. The agreement of the peak energies of π and σ polarized light means that A, B, and C band edges are closely located in energy space.1 Introduction The optical bandgap of InN was found to be less than 1 eV a few years ago [1]. At present there are many studies toward the device application. So far, several values for the effective electron mass (m e ), dielectric constant at the infinite frequency (ε ∞ ), and bandgap energy (E g ) have been reported. For example, the effective electron mass of 0.4m 0 (m 0 : free electron mass) is estimated theoretically [2], while several value of 0.7m 0 , 0.5m 0 , 0.85m 0 are reported experimentally [3][4][5]. Optical studies of reflectance, absorption, photoluminescence, and so forth are adopted to characterize the band edge structures. Theoretically, Kane's non-parabolic conduction band energy structure [6]. Neverthless, there are few studies discussing the consistency of the results obtained by these methods and the theoretical study. Arnaudov et al. studied the free to bound recombination processes with the photoluminescence spectra [7]. They suggested the average hole mass value of 0.3m 0 . Goldhahn et al. investigated the the dielectric function for InN by ellipsometry, and found the optical anisotropic nature caused by the splitting of the hole states [8]. However the detail energitic structure is not shown for valence bands. We have investigated the optical refletance and absorption spectra, and reported that both of reflectance and absorption spectra were explained by the VB to CB transition using apparent transition matrix element for samples with various n e [9]. However, we have not examined the effects of hole properties on these spectral analysis. Further, the polarization measurements have not been tried on absorption and luminescence spectra, which is usually adopted to investigate the hole energy structure.