An InGaP/GaAs superlattice with multiquantum barrier (MQB) effect was demonstrated by low-pressure organometallic vapor phase epitaxial technique. Two types of n-i-n tunnel diodes with either InGaP/GaAs MQB barrier or bulk InGaP barrier were fabricated for comparison. The current-voltage characteristics show that the turn on voltage in the MQB barrier sample is higher than that in the bulk barrier sample. The experimentally measured effective barrier height of the MQB is about 1.8 times that of the bulk barrier, and this value is in quite good agreement with the value, 1.93, theoretically calculated by the transfer matrix method.