An organic light emitting diode (OLED) including at least one emitting material layer (EML) disposed between two electrodes and comprising a first compound including a fused hetero aromatic ring with at least one nitrogen atom and a second compound of a boron-based compound and an organic light emitting device including the OLED is disclosed. The first compound and the second compound may be the same emitting material layer or adjacently disposed emitting material layers. The OLED can lower its driving voltage and improve its luminous efficiency using the first and second compounds with adjusting their energy levels.