Disclosed herein is a red phosphorescent compound represented by Formula 1 below:whereinisR1 is selected from the group consisting of C1-C4
alkyl and C1-C4 alkoxy; R2, R3, R4 and R5 are independently selected from the group consisting ofhydrogen, C1-C4
alkyl and C1-C4 alkoxy; andis selected from the group consisting of 2,4-pentanedione, 2,2,6,6,-tetramethylheptane-3,5-dione, 1,3-propanedione, 1,3-butanedione, 3,5-heptanedione, 1,1,1-trifluoro-2,4-pentanedione, 1,1,1,5,5,5-hexafluoro-2,4-pentanedione and 2,2-dimethyl-3,5-hexanedione.Further disclosed herein is an organic electroluminescent (EL) device using the red phosphorescent compound.