Abstract Indium tin oxide (ITO) as an electrode is generally sputtered to fabricate semitransparent perovskite solar cells (PSCs). In this work, ITO as the electrode of the PSC was deposited at a high rate (5 nm sec −1 ) by activated reactive evaporation (ARE) using a pressure-gradient-type plasma gun instead of sputtering. The power-conversion efficiency of the PSC with ITO (14.2%) deposited by ARE was comparable to that of a PSC with Ag (14.4%) deposited by thermal evaporation. This result shows that ARE is an effective method for depositing ITO to fabricate the semitransparent PSC.