Example embodiments disclose a smart contact lens for augmented reality and methods of manufacturing and operating the smart contact lens. The smart contact lens includes a first contact lens, a display unit in a center region of the first contact lens, a peripheral device on the first contact lens and around the display unit, the peripheral device being connected to the display unit, and a passivation layer covering the display unit and the peripheral device. The method of manufacturing the smart contact lens includes forming a display unit; mounting the display unit in a center region of a first contact lens, forming a peripheral device on the first contact lens, around the display unit and in connection with the display unit, and forming a passivation layer to cover the display unit and the peripheral device.