Recently, Indium gallium zinc oxide (InGaZnO or IGZO) has attracted much attention for flexible and transparent electronics, because of its superior electric properties, optical transparency and low processing temperature. In this work, Schottky diodes with a structure of Pd/IGZO/Ti/Au were fabricated by radio‐frequency magnetron sputtering at room temperature without any thermal treatment. The optimised diode with a 66‐nm‐IGZO layer shows an extremely large barrier height (1.02 eV), a very high rectification ratio (> 8.5 × 107), and a close to unit ideality factor (1.23). Our results suggest that Pd and IGZO can form very high quality Schottky contact with a large barrier height, extremely low defects density and high uniformity. (© 2016 WILEY‐VCH Verlag GmbH & Co. KGaA, Weinheim)