A light emitting diode having multiple tunnel junctions is provided. This comprises the common contact layer, the first and second tunnel junction layers respectively disposed on the bottom surface and the upper surface of the common contact layer, the first light emitting structure disposed on the bottom surface of the first tunnel junction layer and the second light emitting structure disposed on the upper surface of the second tunnel junction layer. Light emitting structures emitting blue and green light may be disposed above and below the common contact layer. By injecting holes into the first light emitting structure and the second light emitting structure through the common contact layer formed of the n-type semiconductor, current spreading effect is improved, leading to improved light emitting efficiency. Since the n-type semiconductor layer can be disposed on the upper surface exposed to the outside, risk of damage occurring in subsequent fabrication steps can be reduced.