High-efficiency organic light-emitting diodes (OLEDs) based on multilayer transparent electrodes (MTEs) are reported. The dielectric/metal/dielectric (DMD) multilayer electrode based on a thin silver layer achieved high sheet conductance as small as $6{Omega}/sp$ and a tuning capability in the optical and electrical properties by engineering the inner and outer dielectric layers. In the conventional normal bottom-emitting structure, a DMD-based OLED can be fabricated with 90% higher forward luminous efficiency and 30% higher external quantum efficiency (EQE) compared to ITO-based devices. Special attention was paid to the optimization method of such MTE structure considering both the injection and optical structures.