Fabrication methods for low drive voltage and broad-band LiNbO ₃ waveguide directional coupler optical modulator are described. Optical waveguides were prepared by conventionaly Ti in-diffusion into LiNbO ₃ -cut plate. To obtain wide-band frequency response, traveling wave electrodes were used. Electrode characteristic impedance measured by time domain reflectometry method coincided well with the calculated value by conformal mapping. Measured electrode conductor losses followed square root of frequency. To reduce electrode conductor losses, asymmetric and 3-μm thick Al electrodes were used. Directional coupler optical modulator frequency response was analyzed, using the phase difference average value along the propagation directions. Calculated value by this method coincided well with measured value obtained by a swept frequency technique. The characteristics of this modulator at the 1.317-μm wavelength are as follows: 100 percent modulation voltage is 4 V, extinction ratio is 17 dB, optical insertion loss is 5.4 dB, 3-dB bandwidth is 3.6 GHz, and rise time is about 400ps.