  We calculate the branching ratio of $\bar{B}^0 \to \Lambda_c^+ \bar{p}$ in
the PQCD approach. Most previous model calculations obtained branching ratios
significantly larger than experimental data. We find that the predicted
branching ratio for BR$(\bar{B}^0 \to \Lambda_c^+ \bar{p})$ in the PQCD
approach can vary over a range of $(2.3\sim 5.1)\times 10^{-5}$ with the
largest uncertainty coming from the parameters in the wave function of
$\Lambda_c$. With the favored values for the parameters in the $\Lambda_c^+$
wave function, $\beta = 1$ GeV and $m_q = 0.3$ GeV, the branching ratio is
about $2.3\times 10^{-5}$ which is satisfactorily consistent with the value
measured by experiments.
