A light emitting diode includes: a substrate; an n-type semiconductor layer disposed on the substrate; an active layer disposed on the n-type semiconductor layer; a p-type semiconductor layer disposed on the active layer; a first electrode disposed on the p-type semiconductor layer and made of a metal oxide; a second electrode disposed on the first electrode and made of graphene; a p-type electrode disposed on the second electrode; and an n-type electrode disposed on the n-type semiconductor layer, wherein a work function of the first electrode is less than a work function of the p-type semiconductor layer, but is greater than a to work function of the second electrode.