A method and system for generating both return-to-zero (RZ) and carrier suppressed return-to-zero (CSRZ) shaped signals using only a single optical modulator. The system includes: a switch for receiving a data signal and a clock signal as inputs, and outputting a voltage signal; a unit for controllably adjusting the phase of said clock signal before input to the switch; an optical modulator for receiving a continuous wave light (CW) signal and the voltage signal as inputs, and outputting one of an RZ and a CSRZ signal. To generate a CSRZ signal, the optical modulator is biased at a transmission minimum level signal. To generate an RZ signal, the optical modulator is biased at a transmission maximum level and the clock signal is phase shifted. Also disclosed is an optical communication transceiver including a plurality of optical modulator circuits generating both RZ and CSRZ signals. The transceiver also includes a wavelength division multiplexer for combining the generated signals from the plurality of optical modulator circuits for transmission.