We fabricated a complex transparent conductive electrode (TCE) based on Ga2O3 for AlGaN-based ultraviolet light-emitting diodes. The complex TCE consists of a 10 nm ITO, a 15 nm Ga2O3, a 7 nm Ag, and a 15 nm Ga2O3, forming a ITO/Ga2O3/Ag/Ga2O3 multilayer. The metal layer embedded into Ga2O3 and the thin ITO contact layer improves current spreading and electrode contact properties. It is found that the ITO/Ga2O3/Ag/Ga2O3 multilayer can reach a 92.8% transmittance at 365 nm and a specific contact resistance of 10−3 Ω·cm2 with suitable annealing conditions.