A method for fabricating a field effect transistor includes: forming an insulating film provided on a semiconductor layer, the insulating film having an opening via which a surface of the semiconductor layer is exposed and including silicon oxide; forming a Schottky electrode on the insulating film and in the opening, the Schottky electrode having an overhang portion and having a first contact layer that is provided in a region contacting the insulating film and contains oxygen, and a second contact layer that is provided on the first contact layer and contains a smaller content of oxygen than that of the first contact layer; and removing the insulating film by a solution including hydrofluoric acid.