The invention provides an electrode of a p-type gallium nitride-based device as well as a preparation method and application thereof. The electrode comprises a nickel oxide layer, a platinum layer and a gold layer which are sequentially stacked, wherein the nickel oxide layer is of a P-type structure, the platinum layer is located between the P-type nickel oxide layer and the gold layer, and the nickel oxide layer is an ohmic contact layer of the p-type gallium nitride-based device. The electrode of the p-type gallium nitride-based device is used for a source electrode and a drain electrode of the p-type gallium nitride-based device, more carriers flow between metal and a semiconductor by introducing a Schottky barrier height of the P-type NiO layer, the transition metal and the semiconductor interface, and meanwhile, by means of ultrahigh vacuum heat treatment, the problem that the height of the Schottky barrier is increased due to a Ga2O3 pollution layer is solved, the ohmic contact resistance of the source electrode and the drain electrode of the device is reduced, the performance of a p-type gallium nitride-based transistor is improved, the p-type gallium nitride-based device can play a greater role in a CMOS circuit, and the defect is changed into the advantage.