A novel transparent conducting oxide based on the ATO/graphene multi-layered thin films has been developed to satisfy the application of transparent conductive electrode in solar cells. The ATO thin films are prepared by pulsed laser deposition method with high quality, namely the sheet resistance of 49.5 Ω/sq and average transmittance of 81.9 %. The prepared graphene sheet is well reduced and shows atomically thin, spotty distributed appearance on the top of the ATO thin films. The XRD and optical micrographs are used to confirm the successfully preparation of the ATO/graphene multi-layered thin films. The Hall measurements and UV-Vis spectrophotometer are conducted to evaluate the sheet resistance and optical transmittance of the innovative structure. It is found that graphene can improve the electrical properties of the ATO thin films with little influence on the optical transmittance.