In this letter, we report on a quasi-vertical GaN-based metal-insulator-semiconductor (MIS) Schottky barrier diode with an insertion of 2 nm thick Al2O3 dielectric layer. It shows a turn-on voltage of 0.7 V, a specific on-resistance of 3.5 mΩ·cm2, and a high on/off current ratio of 1011. The proposed structure enables a breakdown voltage of 1430 V, rendering a Baliga’s power figure-of-merit of 0.58 GW·cm-2. The enhanced performance is attributed to defect-related leakage can be suppressed and the direct tunneling process dominates at the MIS-based Schottky contact interface.