This work presents the fabrication and characteristics of $Bi_2O_3/Si$ heterojunction prepared by rapid thermal oxidation technique without any postdeposition annealing condition. The bismuth trioxide film was deposited onto monocrystalline Si and glass substrates by rapid thermal oxidation of bismuth film with aid of halogen lamp at $500^{circ}C/;45$ s in static air. The structural, optical and electrical properties of $Bi_2O_3$ film were investigated and compared with other published results. The structural investigation showed that the grown films are polycrystalline and multiphase (${alpha}-Bi_2O_3$ and ${eta}-Bi_2O_3$). Optical properties revealed that these films having direct optical band gap of 2.55 eV at 300 K with high transparency in visible and NIR regions. Dark and illuminated I-V, CV, and spectral responsivity of $Bi_2O_3/Si$ heterojunction were investigated and discussed.