Provided are a reflective electrode and a compound semiconductor light emitting device having the reflective electrode, such as LED or LD is provided. The reflective electrode formed on a p-type compound semiconductor layer of a compound semiconductor light emitting device, comprising a first electrode layer formed one of a Ag and Ag-alloy and forms an ohmic contact with the p-type compound semiconductor layer, a third electrode layer formed of a material selected from the group consisting of Ni, Ni-alloy, Zn, Zn-alloy, Cu, Cu-alloy, Ru, Ir, and Rh on the first electrode layer, and a fourth electrode layer formed of a light reflective material on the third electrode layer.