A liquid crystal display and a method of manufacturing the same are provided. The liquid crystal display includes an insulating substrate, a gate electrode formed on the insulating substrate, an oxide semiconductor layer formed on the gate electrode, an etch stopper formed on the oxide semiconductor layer in a channel area, a common electrode formed on the insulating substrate, source and drain electrodes separated from each other on the etch stopper and extending to an upper portion of the oxide semiconductor layer, a passivation layer formed on the etch stopper, the common electrode, the source and drain electrodes, and a pixel electrode formed on the passivation layer and connected to the drain electrode.