A field effect transistor includes: a first nitride semiconductor layer having a plane perpendicular to a (0001) plane or a plane tilted with respect to the (0001) plane as a main surface; a second nitride semiconductor layer formed on the first nitride semiconductor layer and having a wider bandgap than the first nitride semiconductor layer; a third nitride semiconductor layer formed on the second nitride semiconductor layer; and a source electrode and a drain electrode formed so as to contact at least a part of the second nitride semiconductor layer or the third nitride semiconductor layer. A recess that exposes a part of the second nitride semiconductor layer is formed between the source electrode and the drain electrode in the third nitride semiconductor layer. A gate electrode is formed in the recess and an insulating film is formed between the third nitride semiconductor layer and the gate electrode.