The Tantalum oxide material (Ta2O5) as tunnel oxide in comparison with the Silicon dioxide (SiO2) Tunnel oxide is proposed. The lower bandgap and high refractive index of Ta2O5 has several advantages over SiO2. The Ta2O5 is used as Anti-Reflecting coating earlier, but also has capability to behave as the tunneling oxide. In the ultrathin region, the Tantalum oxide (Ta2O5) potentially produces extremely high tunneling and high electric field. The greater electrical intensity increases both the transportation of carrier and passivation quality of designed c-Si structure. The carrier selectivity is also increased due to very high capacitive nature. The performance measurement is done in ASTM certified AM1.5G environment using Silvaco ATLAS 2D TCAD tool. The comparison has been made between Ta2O5 and SiO2, to show the advantage of Ta2O5 over SiO2. The lower bandgap of 4.8eV and higher affinity of 3.19 of Ta2O5 as compared to SiO2 proves to be better material as tunneling oxide. The bandgap and electric field region of both the materials have been studied. In first approach to use Ta2O5 as tunneling oxide, the power conversion 28.42% is obtained for 0.1nm thickness of the Ta2O5. External and internal quantum efficiencies are well above 80% and 90% respectively. The characteristics of the Ta2O5 tunneling based solar cell are compared with the previous reported solar cell.