The present invention provides a reflective type liquid crystal display device and fabricating method thereof, by which resolution is enhanced in a manner of representing two colors from one sub-pixel. The present invention includes a first substrate having a plurality of thin film transistors and a plurality of pixel electrodes within a plurality of sub-pixels defined by a plurality of gate and data lines perpendicularly crossing with each other, respectively, a second substrate assembled to the first substrate to confront, a liquid crystal layer between the first and second substrates, a third substrate assembled to the first substrate to confront, a plurality of reflective electrodes on an inside of the third substrate to correspond to a plurality of the sub-pixels, respectively, and a color filter layer having a plurality of electrophoretic bodies on a plurality of the reflective electrodes wherein each of the electrophoretic bodies is micro-encapsulated with ionic pigment particles.