This paper discusses the film Love Letter, directed by Iwai Shunji, focusing on “memory”. It has often been pointed out that “memory” is an important element in the films produced by director Iwai. In particular, memory is an important theme in Love Letter, which focuses on a person who has passed away. Therefore, in this paper, I discuss the “memories” of the characters in terms of “forgetting,” “retaining memories,” and “reviving memories,” and finally, I discuss the love letter—which is also the title of the film—in terms of memory. First, in Chapter 2, I point out that through people’s lost memories, there is a possibility that the personalities of those who have kept their memories are revealed. Next, in Chapter 3, I look closely at those memories that have not disappeared and find that they are concentrated on those related to Fujii, who died young. In Chapter 4, by examining the past memories revived by Itsuki, it is revealed that Fujii actually had a strong liking for her. Finally, in Chapter 5, I point out that there are three love letters in this film, all of which are directed one way.