A method of fabricating an organic light emitting diode using phase separation. The method includes preparing a transparent substrate. A first light path control layer is formed on the transparent substrate. The first light path control layer includes a mixture of a first medium and a second medium having a lower refractive index than the first medium using the phase separation. An anode, an organic emission layer, and a cathode are sequentially stacked on the first light path control layer. In this method, an OLED with improved light extraction efficiency can be fabricated using a simple and inexpensive process.