Abstract: The present invention provides a gallium nitride based semiconductor light emitting diode having high transparency, and at the same time, capable of improving contact resistance between a p-type GaN layer and electrode and a process for preparing the same. These objects can be accomplished by forming, on an upper part of a upper clad layer made of p-GaN, an ohmic contact forming layer using MIO, ZIO and CIO (In2O3 including one of Mg, Zn and Cu), and then a transparent electrode layer and a second electrode with ITO thereon, so as to improve contact resistance between the upper clad layer and the second electrode while providing high transparency.