A systematic study on hole-tunneling current through both oxynitride and oxynitride/oxide (N/O) stack is for the first time presented based on a physical model. The calculations are in good agreement with the available experimental data. With a given equivalent oxide thickness (EOT), and under typical operating gate voltages ( 2 V), hole-tunneling current (essentially the gate current) is found to be lowest through the oxynitride or N/O stack with 33% of nitrogen (N). An optimized N/O stack structure with 33% (atomic percentage) nitrogen and with a 3 Å oxide layer for keeping acceptable channel interface quality is proposed to project the N/O gate dielectrics scaling limit using in MOSFETs. Index Terms-Dielectric films, hole tunneling, MOSFETs, oxynitride/oxide (N/O), silicon oxynitrides.