By fabricating the organic light-emitting devices (OLEDs) based on phosphorescent material, the internal quantum efficiency can reach 100%, compared to 25% in the case of the fluorescent material. Thus, the phosphorescent OLEDs have recently been extensively studied and showed higher internal quantum efficiencies then the conventional OLEDs. In this study, we investigated the characteristics of the phosphorescent OLEDs, with the green emitting phosphor, $Ir(ppy)_{3}$, (tris(2-phenylpyridine)iridium). The devices with a structure of $ITO/TPD/Ir(ppy)_{3}$ doped in the host material $/BCP/Alq_{3}/Li:Al/Al$ were fabricated, and its electrical and optical characteristics were studied. By changing the doping concentration of $Ir(ppy)_{3}$, we fabricated several devices and investigated the device characteristics. OLEDs doped into BCP by 10% showed the best characteristics. For 10% doped OLEDs, the maximum luminance of was over 10000 $cd/m^{2}$, and the maximum power efficiency was 7.14 lm/W.