We report on the polarization independent operation of an electroabsorption guided‐wave modulator based on strained GaInAs–AlInAs multiquantum well structure. The device operates in the 1.5–1.6 &mgr;m wavelength range and exhibits very high static performances as illustrated by the measured 15 dB/100 &mgr;m extinction ratio for a drive voltage of only 1.25 V. We show that the observed polarization insensitivity of this device is in good agreement with the calculation of the electroabsorption curves. The detailed analysis indicates that significant improvement of the performance is still possible. ©1995 American Institute of Physics.