A transparent display device that may improve light transmittance in a transmissive mode, and a method for fabricating the same are discussed. The transparent display device according to an embodiment includes a first substrate, a second substrate facing a first surface of the first substrate, and a third substrate facing a second surface of the first substrate; a display unit arranged between the first and third substrates, and including a transmissive area and an emission area; and a light controller arranged between the first and second substrates, and transmitting or shielding incident light. The light controller includes a control thin film transistor provided on the first surface of the first substrate; a first electrode provided on the control thin film transistor; a second electrode provided on one surface of the second substrate facing the first substrate; and liquid crystal cells arranged between the first electrode and the second electrode. The control thin film transistor is arranged to correspond to the emission area.