By studying different annealing effects of substrate and anode metal, high-performance Schottky diodes based on InGaZnO (IGZO) film have been realized. It is observed that a suitable thermal annealing of the SiO2/Si substrate significantly improves the diode performance. On the contrary, annealing of the Pd anode increases surface roughness, leading to degradation in the diode performance. As such, by only annealing the substrate but not the anode, we are able to achieve an extremely high rectification ratio of 7.2 × 107, a large barrier height of 0.88 eV, and a near unity ideality factor of 1.09. The diodes exhibit the highest performance amongst IGZO-based Schottky diodes reported to date where IGZO layer is not annealed. The capacitance vs. voltage measurements indicate that the surface roughness is correlated with the trap state density at the Schottky interface.