In this study, heterojunction diodes based on ultrananocrystalline diamond/hydrogenated amorphous carbon (UNCD/a-C:H) composite films, grown on Si substrates using the coaxial arc plasma deposition method, were modeled, characterized, and investigated. Calibrated material parameters, extracted from experimental analysis of nitrogen-doped (n-type) UNCD/a-C:H/p-type Si heterojunctions, were fed to the device model. Design of vertical geometry Pd/n-type UNCD/a-C:H Schottky diodes was proposed using a two-dimensional device simulator. Simulation results of diodes with field-plate termination exhibited a barrier height of 1 eV, turn-on voltage of 0.75 V, specific on-resistance (R
s,on) of 70 mΩ cm2, and breakdown voltage (V
BD) of 270 V. This corresponds to the power figure of merit (V
BD
2/R
s,on) of 1.04 MW cm−2. The results offer a promising potential of using nitrogen-doped UNCD/a-C:H in power electronics devices.