Abstract: A Field Effect Transistor (FET) and a method of manufacturing the same are provided. The FET may include a substrate; a source and a drain, one of which is formed on a bulge formed on a top surface of the substrate, and the other of which is formed in the substrate below but laterally offset from the bulge; a gate formed at a position where the bulge and the top surface of the substrate join each other; and a gate dielectric layer formed between the gate and the bulge and also between the gate and the top surface of the substrate. The FET has a vertical configuration, where the source is disposed on top of the bulge while the drain is disposed in the substrate, that is, the source and the drain are not in one same plane. As a result, the FET may have its area significantly reduced. Therefore, it is possible to improve an integration density of an IC and thus reduce cost.