IZTO20 (In0.6Zn0.2Sn0.2O1.5) ceramic target was prepared from oxide mixture of In2O3, ZnO, and SnO2 powders. IZTO20 thin films were then deposited onto glass substrate at 400 °C by DC magnetron sputtering. The average optical transmittance determined by ultraviolet-visible spectroscopy was higher than 85% for all films. The minimum resistivity of the annealed IZTO20 thin film was approximately 6.1×10-4 Ω·cm, which tended to increase with decreasing indium content. Substrate heating and annealing were found to be important parameters affecting the electrical and optical properties. An organic photovoltaic (OPV) cell was fabricated using the IZTO20 film deposited under the optimized condition as an anode electrode and the efficiency of up to 80% compared to that of a similar OPV cell using ITO film was observed. Reduction of surface roughness and electrical resistivity through annealing treatment was found to contribute to the improved efficiency of the OPV cell.