A light receiving/emitting element 11 includes: a light receiving/emitting layer 21 in which a plurality of compound semiconductor layers are stacked; and an electrode 30 having a first surface 30A and a second surface 30B and made of a transparent conductive material, in which the second surface faces the first surface 30A, and the electrode is in contact, at the first surface 30A, with the light receiving/emitting layer 21. The transparent conductive material contains an additive made of one or more metals, or a compound thereof, selected from the group consisting of molybdenum, tungsten, chromium, ruthenium, titanium, nickel, zinc, iron, and copper, and concentration of the additive contained in the transparent conductive material near an interface to the first surface 30A of the electrode 30 is higher than concentration of the additive contained in the transparent conductive material near the second surface 30B of the electrode 30.