A photodiode that can provide a THz operation with a stable output. A photodiode having a pin-type semiconductor structure includes a semiconductor layer structure and n and p electrodes. The semiconductor layer structure is obtained by sequentially layering an n-type contact layer, a low concentration layer, and a p-type contact layer. The low concentration layer is obtained by layering an electron drift layer, a light absorption layer, and a hole drift layer while being abutted to the n-type contact layer. The n electrode and the p electrode are connected to the n-type contact layer and the p-type contact layer, respectively. During operation, the low concentration layer is depleted.