The photorefractive effect of photoconductive-polymer-stabilized ferroelectric liquid crystals (FLCs) was investigated. A photoconductive acrylate monomer and an electron acceptor compound were mixed with an FLC, and the mixtures were photopolymerized in the ferroelectric phase. A photoconductive polymer network was formed in the FLC medium, and a polymer-stabilized FLC was obtained. The photorefractive effect was evaluated by a two-beam coupling experiment. A large gain coefficient was obtained in the polymer-stabilized FLCs.