Disclosed are a method of fabricating a light emitting diode and a light emitting diode fabricated by the same. In the method of fabricating a light emitting diode, a convex-concave pattern is formed on a light emitting structure and a nanosphere layer is transferred to the convex-concave pattern, followed by dry etching to form a stepped surface structure having a plurality of nanobumps arranged on a surface thereof, and chemical coating to reduce surface energy of the stepped surface structure. The method can easily form a stepped surface structure having a plurality of nanobumps on a surface of a convex-concave pattern periodically arranged through nanosphere lithography and dry etching, thereby simplifying the fabrication process while improving production yield.