The invention provides a power device and a method of fabricating the same. The method comprises: forming a first trench on an upper surface of a silicon wafer and forming a second trench on the lowersurface of the silicon wafer; forming source and gate structures in the first trench; forming a back electrode in the second trench; forming a third trench and a fourth trench at the two sides of thefirst trench on the upper surface of the silicon wafer and forming a fifth trench and a sixth trench at the two sides of the second trench on the lower surface of the silicon wafer; forming dielectric layers on the side walls and bottom surfaces of the third trench, the fourth trench, the fifth trench, and the sixth trench; forming first metal layers in the third trench, the fourth trench, the fifth trench, and the sixth trench; forming a first waterproof layer and a second waterproof layer on the upper surface of a front surface electrode and the lower surface of the back electrode respectively; and connecting the upper surface of the silicon wafer to a first heat dissipation structure and connecting the lower surface of the silicon wafer to a second heat dissipation structure to enhancethe heat dissipation of the power device.