With the development of organic light‐emitting devices (OLEDs), the transparent OLED is also restricted by its efficiency and stability. Thus, in order to improve the transmittance and luminous efficiency of transparent OLED, the cathode mesh mask combined with Al:Ag alloy is adopted to prepare the cathode of transparent OLED, which would enhanced the luminance, efficiency, and transmittance of the device. With the same driving voltage, the device has the highest brightness, when the cathode thickness is 85 nm. At the voltage of 13 and 14 V, the luminance, for bottom‐emission and top‐emission, is 9501 cd/m2 and 1840 cd/m2, respectively. The entire transmittance of the device has achieved about 78% at a 480 nm wavelength.