The invention relates to the electrical engineering industry, in particular to conductive transparent oxide technologies. The invention is a method for improving the electrical conductivity of electrically conductive degenerate oxide semiconductors. The method involves immersing a thin film of oxide material in a photogenerated hole scavenging medium and irradiating by light having energy larger than the bandgap energy of oxide material. The present invention is intended for use in mobile phones, touch screens, photochromic devices, etc.