The light-emitting diode is a light-emitting diode including a light-converting material substrate and a semiconductor layer formed on the light-converting material substrate, wherein the light-converting material substrate includes a solidified body in which at least two or more oxide phases selected from a simple oxide and a complex oxide are formed continuously and three-dimensionally entangled with each other, at least one oxide phase in the solidified body comprises a metal element capable of emitting fluorescence, and the semiconductor layer includes a plurality of compound semiconductor layers and has at least a light-emitting layer capable of emitting visible light. A light-emitting diode substrate forms a semiconductor, ensuring that the crystal-structure matching with a semiconductor for the formation of a light-emitting diode is good, a good semiconductor layer with less defects can be formed, good-efficiency light emission can be obtained from a light-emitting layer formed in the semiconductor layer, uniform florescence can be emitted by light from the light-emitting layer in the semiconductor layer, and light can be efficiently out put; and a color unevenness-free light-emitting diode using the substrate.