A novel 2-phenylpyridinate-based bis-cyclometalated iridium(III) complex bearing a phosphine oxide-appended diketonate ancillary ligand was synthesized, aimed at the development of a phosphorescent material with electron-transporting functionality for OLED applications. The photoluminescence spectrum of this complex was almost comparable to that of Ir(ppy)(2)(acac) (ppy: 2-phenylpyridinate; acac: acetylacetonate). Utilizing the solubility in an alcoholic solvent, a solution-processed OLED bearing a double emitting layer structure was successfully fabricated.