A Schottky diode for millimeter and submillimeter wave applications is comprised of a multi-layered structure including active layers of gallium arsenide on a semi-insulating gallium arsenide substrate with first and second insulating layers of silicon dioxide on the active layers of gallium arsenide. An ohmic contact pad lays on the silicon dioxide layers. An anode is formed in a window which is in and through the silicon dioxide layers. An elongated contact finger extends from the pad to the anode and a trench, preferably a transverse channel or trench of predetermined width, is formed in the active layers of the diode structure under the contact finger. The channel extends through the active layers to or substantially to the interface of the semi-insulating gallium arsenide substrate and the adjacent gallium arsenide layer which constitutes a buffer layer. Such a structure minimizes the effect of the major source of shunt capacitance by interrupting the current path between the conductive layers beneath the anode contact pad and the ohmic contact. Other embodiments of the diode may substitute various insulating or semi-insulating materials for the silicon dioxide, various semi-conductors for the active layers of gallium arsenide, and other materials for the substrate, which may be insulating or semi-insulating
