A light emitting diode and a method for fabricating the same are provided. The light emitting diode includes: a transparent substrate; a semiconductor material layer formed on the top surface of a substrate with an active layer generating light; and a fluorescent layer formed on the back surface of the substrate with controlled varied thicknesses. The ratio of light whose wavelength is shifted while propagating through the fluorescent layer and the original light generated in the active layer can be controlled by adjusting the thickness of the fluorescent layer, to emit desirable homogeneous white light from the light emitting diode.