Transparent conductive oxides (TCEs) are essential and important part of many optoelectronic devices. They could affect efficiencies due to their optical and electrical properties. In this work, commercially available Indium Tin Oxide (ITO) and generously provided ZTO/Ag/ZTO (ZAZ) multilayer thin film coated glasses are utilized as anodes in a Super Yellow (SY) based Organic Light Emitting Diode (OLED). ZAZ electrode presented comparable transparency with the ITO and although, it was much thinner, its sheet resistance was more than 20% lower than the ITO electrode. The electroluminescence wavelength range of SY was almost identical with both electrodes. Due to the obtained higher turn-on voltage, the power efficiency value was slightly lower with the ZAZ electrode, and a negligible full width of half-maximum increase was detected. Nevertheless, ZAZ electrode presented higher luminous and external quantum efficiencies, color stability with applied voltage, and therefore addressed as a good candidate for ITO-free OLEDs.