This work presents a full-duplex and multifunction bidirectional transceiver for optical interconnect application. The transceiver utilizes a common limiting amplifier/gain stage, thus reducing total chip area and total power consumption. While providing a full-duplex bidirectional transmission with the aid of a hybrid circuit between the electrical input/output (I/O) and the optoelectronic signals from the transmitter and receiver circuits, it also allows for a half-duplex operation with the aid of a switch between the transimpedance amplifier signals and the transmitter electrical input from the I/O port. The multifunction bidirectional CMOS transceiver is designed in a 0.13 mu m Si-CMOS technology, with power dissipation of 79 and 54.4 mW for the transmitter and receiver, respectively. It shows a 3-dB bandwidth of 5.58 and 5.69 GHz for the transmitter and the receiver respectively and with a 3-dB gain of 66.14 and 69.6 dB, in full-duplex mode. The transceiver operates up to 7 Gb/s in full-duplex mode.