A three-terminal avalanche photodiode provides a first controllable voltage drop across a light absorbing region and a second, independently controllable, voltage drop across a photocurrent amplifying region. The absorbing region may also have a different composition from the amplifying region, allowing further independent optimization of the two functional regions. An insulating layer blocks leakage paths, redirecting photocurrent toward the region(s) of highest avalanche gain. The resulting high-gain, low-bias avalanche photodiodes may be fabricated in integrated optical circuits using commercial CMOS processes, operated by power supplies common to mature computer architecture, and used for optical interconnects, light sensing, and other applications.