The present invention discloses an LED and its fabrication method. The LED comprises: a sapphire substrate; an epitaxial layer, an active layer and a capping layer arranged on the sapphire substrate in sequence; wherein a plurality of cone-shaped structures are formed on the surface of the sapphire substrate close to the epitaxial layer. The cone-shaped structures can increase the light reflected by the sapphire substrate, raising the external quantum efficiency of the LED, thus increasing the light utilization rate of the LED. Furthermore, the formation of a plurality of cone-shaped structures can improve the lattice matching between the sapphire substrate and other films, reducing the crystal defects in the film formed on the sapphire substrate, increasing the internal quantum efficiency of the LED.