Provided is a semiconductor device including a substrate in which an insulation layer is disposed between a first semiconductor layer and a second semiconductor layer, a through-hole penetrating through the substrate, the through-hole having a first hole penetrating through the first semiconductor layer and a second hole penetrating through the insulation layer and the second semiconductor layer from a bottom surface of the first hole, an epi-layer disposed inside the through-hole, a drain electrode disposed inside the second hole and contacting one surface of the epi-layer, and a source electrode and a gate electrode which are disposed on the other surface of the epi-layer.