An InP ring resonator with an experimentally demonstrated quality factor (Q) of the order of 10(6) is reported for the first time. This Q value, typical for low loss technologies such as silica-on-silicon, is a record for the InP technology and improves the state-of-the-art of about one order of magnitude. The cavity has been designed aiming at the Q-factor maximization while keeping the resonance depth of about 8 dB. The device was fabricated using metal-organic vapour-phase-epitaxy, photolithography and reactive ion etching. It has been optically characterized and all its performance parameters have been estimated. InP waveguide loss low as 0.45 dB/cm has been measured, leading to a potential shot noise limited resolution of 10 °/h for a new angular velocity sensor.