A three-dimensional (3D) topological insulator (TI) is a quantum state of matter with a gapped insulating bulk yet a conducting surface hosting topologically-protected gapless surface states. One of the most distinct electronic transport signatures predicted for such topological surface states (TSS) is a well-defined half-integer quantum Hall effect (QHE) in a magnetic field, where the surface Hall conductivities become quantized in units of (1/2)e2/h (e being the electron charge, h the Planck constant) concomitant with vanishing resistance. Here, we observe well-developed QHE arising from TSS in an intrinsic TI of BiSbTeSe2. Our samples exhibit surface dominated conduction even close to room temperature, while the bulk conduction is negligible. At low temperatures and high magnetic fields perpendicular to the top and bottom surfaces, we observe well-developed integer quantized Hall plateaus, where the two parallel surfaces each contributing a half integer e2/h quantized Hall (QH) conductance, accompanied by vanishing longitudinal resistance. When the bottom surface is gated to match the top surface in carrier density, only odd integer QH plateaus are observed, representing a half-integer QHE of two degenerate Dirac gases. This system provides an excellent platform to pursue a plethora of exotic physics and novel device applications predicted for TIs, ranging from magnetic monopoles and Majorana particles to dissipationless electronics and fault-tolerant quantum computers.