We report the demonstration of transparent organic light emitting devices (OLEDs) which are ∼70% transparent throughout the visible spectrum when switched off, and emit light from both sides with a total external quantum efficiency of ∼0.1% when turned on. The devices are Alq3‐based single heterostructure OLEDs grown on an ITO‐coated glass substrate with a top electrode composed of a very thin layer of Mg–Ag and an overlaying ITO film. The top electrode is both electron injecting and transparent. The transparent OLEDs are expected to be useful in high‐resolution full‐color displays, as well as for helmet‐mounted, windshield‐mounted, or other ‘‘head‐up’’ display applications.