A Magneto-Optoelectronic Device MOD (10) includes a magnetic sensing device (12), such as a magnetoresistive device or a magnetic tunnel junction device, that is combined with a semiconductor light emitter (14), such as a LED or a laser diode, to create a compact integrated device where changes in an ambient magnetic field are expressed as changes in an optical beam intensity emanating from the MOD. Using the MOD (10) the magnetic field related information can be transmitted by a light wave over very large distances through some medium (34), for example, through free space and/or through an optical fiber.