In this paper, five-period InGaN/GaN multiple quantum well green light-emitting diodes (LEDs) were grown by metal organic chemical vapor deposition with 405-nm light beam in situ monitoring system. Based on the signal of 405-nm in situ monitoring system, the related information of growth rate, indium composition and interfacial quality of each InGaN/GaN QW were obtained, and thus, the growth conditions and structural parameters were optimized to grow high-quality InGaN/GaN green LED structure. Finally, a green LED with a wavelength of 509 nm was fabricated under the optimal parameters, which was also proved by ex situ characterization such as high-resolution X-ray diffraction, photoluminescence, and electroluminescence. The results demonstrated that short-wavelength in situ monitoring system was a quick and non-destroyed tool to provide the growth information on InGaN/GaN, which would accelerate the research and development of GaN-based green LEDs.