InxGa1-xAs (x≈0.53) epitaxial layers are grown on the (100) surface of InP substrates by molecular beam epitaxy. By regulating the relative ratio of the In and Ga molecular beam intensities, lattice-matched In0.53Ga0.47As epilayers are reproducibly grown on InP substrates. The undoped epilayer is n-type, with a carrier concentration of 3×1016 cm-3 and an electron mobility of 6000 cm2/Vs at room temperature. Its photoluminescent emission spectrum has a full width at half maximum of 1070 A at room temperature. X-ray and scanning Auger analyses are also presented, along with preliminary doping studies. These results show that the quality of the epilayers obtained here is comparable to that of InxGa1-xAs epilayers grown by liquid phase epitaxy.