The present invention provides an LED and the manufacturing method thereof, and a light emitting device. The LED includes a first electrode, for connecting the LED to a negative electrode of a power supply; a substrate, located on the first electrode; and an LED die, located on the substrate; in which a plurality of contact holes are formed extending through the substrate, the diameter of upper parts of the contact holes is less than the diameter of lower parts of the contact holes, and the contact holes are filled with electrode plugs connecting the first electrode to the LED die. The light emitting device includes the LED, and further includes a susceptor and an LED mounted on the susceptor. The manufacturing method includes: forming successively an LED die and a second electrode on a substrate; patterning a backsurface of the substrate to form inverted trapezoidal contact holes which expose the LED die; and filling the contact holes with conductive material till the backface of the substrate is covered by the conductive material. The LED has a high luminous efficiency and the manufacturing method is easy to implement.