DC and RF characteristics of In 0 . 5 Ga 0 . 5 P/In 0 . 2 2 Ga 0 . 7 8 As pseudomorphic high electron mobility transistors (p-HEMTs) having a gate oxide layer were investigated. 1.5x50μm 2 gate p-HEMTs having the gate oxide thickness of 0, 50, and 300 Å were fabricated by using a liquid phase oxidation technique of GaAs. Substantial improvements in gate leakage current and on-state and off-state breakdown voltage characteristics of p-HEMTs having a gate oxide layer were observed. The on-state breakdown voltage (~13.2 V) of the p-HEMTs having a 50 Å gate oxide layer was ~2.3 times lager than that of the p-HEMTs without a gate oxide layer. While the p-HEMTs having a gate oxide layer of 300 Å showed much improved gate leakage current and on-state breakdown voltage characteristics, they suffered from degradation of output conductance due to the drain induced barrier lowering originating from the thick gate oxide layer. While optimization of p-HEMT epitaxial layer structure for metal-oxide-semiconductor gate operation is required for further improvements in device characteristics, the preliminary results indicate the potential of In 0 . 5 Ga 0 . 5 P/In 0 . 2 2 Ga 0 . 7 8 As/GaAs p-HEMT having a gate oxide layer for high power applications.