The quantum anomalous Hall effect has recently been observed experimentally in thin films of Cr doped (Bi,Sb)$_2$Te$_3$ at a low temperature ($sim$ 30mK). In this work, we propose realizing the quantum anomalous Hall effect in more conventional diluted magnetic semiconductors with doped InAs/GaSb type II quantum wells. Based on a four band model, we find an enhancement of the Curie temperature of ferromagnetism due to band edge singularities in the inverted regime of InAs/GaSb quantum wells. Below the Curie temperature, the quantum anomalous Hall effect is confirmed by the direct calculation of Hall conductance. The parameter regime for the quantum anomalous Hall phase is identified based on the eight-band Kane model. The high sample quality and strong exchange coupling make magnetically doped InAs/GaSb quantum wells good candidates for realizing the quantum anomalous Hall insulator at a high temperature.
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