Dramatically improved power efficiency and stability of organic light-emitting diodes (OLEDs) were achieved by using buckminsterfullerene (C(60)) as an interlayer between indium tin oxide (ITO) anode and hole transporting layer of N, N'-diphenyl-N, N'-bis(1,1'-biphenyl)-4,4'-diamine (NPB) and electron transporting layer (ETL) at the same time. The results are ascribed to the interfacial-dipole formation of C(60) on the surface of ITO anode and Ohmic cathode contact of C(60). The surface dipole of C(60) on the ITO anode helps to lower the hole injection energy barrier from ITO to NPB. C(60) also has an Ohmic cathode contact with high electron mobility in the typical structure of C(60)/LiF/Al. These properties of C(60) make it possible to simultaneously enhance the electron and hole injection from both cathode and anode. Lowered operating voltage by surface dipole and Ohmic cathode contact of C(60) can eliminate Joule heating at both organic/cathode and organic/anode interfaces and as a result, provides the improved stability of OLEDs.