Measurements of the microlensing optical depth and event rate toward the Large Magellanic Cloud (LMC) can be used to probe the distribution and mass function of compact objects in the direction toward that galaxy—in the Milky Way disk, the Milky Way dark matter halo, and the LMC itself. The previous measurements, based on small statistical samples of events, found that the optical depth is an order of magnitude smaller than that expected from the entire dark matter halo in the form of compact objects. However, these previous studies were not sensitive to long-duration events with Einstein timescales longer than 2.5–3 yr, which are expected from massive (10–100 M ⊙) and intermediate-mass (102–105 M ⊙) black holes. Such events would have been missed by the previous studies and would not have been taken into account in calculations of the optical depth. Here, we present the analysis of nearly 20 yr long photometric monitoring of 78.7 million stars in the LMC by the Optical Gravitational Lensing Experiment (OGLE) from 2001 through 2020. We describe the observing setup, the construction of the 20 yr OGLE data set, the methods used for searching for microlensing events in the light-curve data, and the calculation of the event detection efficiency. In total, we find 16 microlensing events (13 using an automated pipeline and three with manual searches), all of which have timescales shorter than 1 yr. We use a sample of 13 events to measure the microlensing optical depth toward the LMC τ = (0.121 ± 0.037) × 10−7 and the event rate Γ = (0.74 ± 0.25) × 10−7 yr−1 star−1. These numbers are consistent with lensing by stars in the Milky Way disk and the LMC itself, and they demonstrate that massive and intermediate-mass black holes cannot comprise a significant fraction of the dark matter.