We have developed inverted green phosphorescent organic light emitting diodes (OLEDs) using 1,1-bis[(di-4- tolylamino)phenyl]cyclohexane (TAPC) and bis(carbazole-9-yl)biphenyl (CBP) hole transport layers. The driving voltage, current efficiency, power efficiency, and emission characteristics of devices were investigated. While the driving voltage for the same current density was about 1~2 V lower in the devices with the TAPC layer, the maximum luminance was higher in the device with the CBP layer. The maximum current efficiency and power efficiency were 3.2 and 2.7 times higher in the device with the CBP layer, respectively. The higher efficiency in the CBP device resulted from the enhanced hole-electron balance although weak parasitic recombination takes place in the CBP hole transport layer.