A base layer interposed between an n-type GaAs collector layer and an n-type AlGaAs emitter layer is composed of a p-type InAlGaAs. From a collector/base interface to an emitter/base interface, an InAs composition of the base layer is decreased and a concentration of carbon as a p-type impurity thereof is increased so as to obtain a built-in internal field intensity in the base layer by a cooperative effect of the graded-bandgap and the impurity concentration gradient, thus reducing a base transit time of electrons. The base layer is fabricated according to MOMBE using TMG as a gallium source, controlling the InAs composition, so that a desired carbon concentration gradient is automatically formed. Thereby, a high performance heterojunction bipolar transistor with an increased built-in internal field intensity in the base layer is obtained.