In order to further improve the luminous efficiency of GaN-based light-emitting diodes (LEDs), a novel electrode structure with an interdigitated electrode and electrode holes etched under the P/N electrode is designed and fabricated, with the improvement of the electrode structure as the research point. In this structure, the metal electrodes are in direct contact with the ITO and the N-GaN layers at the P/N electrode holes respectively, so as to improve the current spreading capacity and luminous efficiency of the device. In order to obtain better current blocking layer (CBL) structure, electrode hole size and electrode hole spacing, seven different devices are designed, and their photoelectric properties are tested. The test results show that under the working current of 150 mA, the discontinuous CBL structure cannot effectively improve the luminescence performance of LEDs. The size of the P electrode hole has little effect on the properties of the device. When the spacing of the P electrode hole increases from 20 μm to 30 μm, the external quantum efficiency (EQE) and wall-plug efficiency (WPE) increase by about 5.0% and 3.8%, respectively. When the size of the N electrode hole reduces from 17 μm×5 μm to 10 μm×5 μm, the EQE and WPE increase by about 6.5% and 3.0%, respectively. When the spacing of the N electrode hole reduces from 45 μm to 40 μm, the luminescence performance of the device is not effectively improved.