Holographic reconstruction with polychromatic light was investigated in terms of the multiplexing capability in a volume holographic memory. The broadband spectrum of the probe beam considerably degrades the angular selectivity and causes a serious deterioration of the multiplexing capability, but this can be overcome if an additional suitable optical component is used in the imaging system. We could selectively detect the signal image alone even though the angular separation between holograms was insufficient to suppress the diffraction from other holograms. We theoretically derived the minimum angular separation for multiplexing and experimentally demonstrated the effectiveness of this selective detection method. 2010 Optical Society of America.