A fabricating method of a high electron mobility transistor includes providing a substrate. Then, a channel layer, an active layer, a P-type group III-V compound material layer, a metal compound material layer, a hard mask material layer and a patterned photoresist are formed to cover the substrate. Later, a dry etching process is performed to etch the hard mask material layer and the metal compound material layer to form a hard mask and a metal compound layer by taking the patterned photoresist as a mask. During the dry etching process, a spacer generated by by-products is formed to surround the patterned photoresist, the hard mask and the metal compound layer. After the dry etching process, the P-type group III-V compound material layer is etched by taking the spacer and the patterned photoresist as a mask.