A novel buried buffer doped layer (IBBD) high voltage SBD was presented, and its operating characteristics were analyzed theoretically and verified by simulation. Compared with the conventional high-voltage SBD, the IBBD-SBD introduced a buried buffer doping layer above the substrate to transfer the reverse breakdown point from the PN junction protection ring area of the conventional structure to the Schottky barrier area, which improved the reverse electrostatic discharge (ESD) ability and anti-reverse surge ability, and improved the reliability of the device. Compared with the existing surface buffer doped layer (ISBD) high-voltage SBD, IBBD-SBD reoptimized the longitudinal electric field distribution in the drift zone, and further reduced the reverse leakage current and the forward guide pass pressure drop while keeping the reverse breakdown point occurring in the Schottky barrier area, thus reduced the device power consumption. Simulation results showed that the breakdown voltage of the new device was 118 V. When the reverse bias voltage was 60 V, compared with ISBD-SBD, the leakage current of the IBBD-SBD was reduced by 52.2%, and the forward voltage drop was lower.