According to the present invention, a light-emitting diode with improved light extraction efficiency comprises: a semiconductor laminated structure including an N-layer, a light-emitting layer, and a P-layer formed on a substrate; an N-type electrode formed on the N-layer; and a P-type electrode formed on the P-layer, wherein the N-type electrode and the P-type electrode include a pad electrode and a dispersion electrode, and the N-type electrode and/or the P-type electrode includes a reflective electrode layer for reflecting light onto the dispersion electrode. Thus, the light-emitting diode has a reflective electrode layer on the electrode so as to improve light extraction efficiency. Further, a reflective layer is patterned beneath a pad unit, thus forming roughness and improving adhesion.