Provided are a nitride-based light-emitting device including a transparent electrode made of a transparent conductive oxide having a higher work function than indium tin oxide and a method of manufacturing the same. The nitride-based light-emitting device has a sequentially stacked structure of a substrate, an n-type clad layer, an active layer, a p-type clad layer, and an ohmic contact layer. The ohmic contact layer is formed as a film made of a transparent conductive oxide having a higher work function than indium tin oxide or as a film made of the transparent conductive oxide doped with a metal dopant. Therefore, ohmic contact characteristics with the p-type clad layer are enhanced, thereby ensuring excellent current-voltage characteristics. Furthermore, the high light transmittance of the transparent electrode can increase the emission efficiency of the device.