Iridium complexes have a wide range of applications such as photocatalysts to reduce carbon dioxide [1], imaging reagents for living cells [2], and oxygen sensors [3]. In particular, organic light emitting diodes (OLED) is one of important industrial application for iridium complexes, due to their high phosphorescent efficiency at ambient temperature [4,5]. OLEDs have many advantages, including self-emission (no backlight required), an almost 180 wide view angle, light weight, thin (<2 mm), quick response (1,000 times faster than LCD), high contrast, and can be fabricated on flexible plastic substrates.In 1987, Tan et al. reported the potential of OLEDs using tris (8-hydroxyquinolinato) aluminium (III) (Alq 3 ) [6]. Before them, the OLED device has simple configuration that has single organic crystal sandwiched by two electrodes. They introduced concept of OLED device configuration composed of multiple thin layers (Fig. 11.1). Here, each layer has an exact function, such as charge transporting and emitting abilities. The external efficiency of this OLED device was 1 %, which meant an internal efficiency of 5 %, because the output efficiency from the device was approximately 20 % [7]. After charge (hole and electron) injection into the emitting layer, 25 % singlet and 75 % triplet excitons are generated by charge recombination. Therefore, the only usable amount of fluorescence is 25 %. If phosphorescent materials can be used, then the 75 % triplet excitons are usable. In addition, the triplet excited state has lower energy than the singlet excited state; therefore, there is a chance that intersystem crossing of singlet excited state to the triplet excited state could occur.