In this paper, the working mechanism and high characteristics of an InP/InGaAsP uni-traveling-carrier (UTC) double hetero-junction phototransistor (DHPT) has been analyzed. The UTC-DHPT employs a heavy doping base and two hetero-junctions to realize UTC structure to ease the contract between HPT responsivity and HPT working speed. Optical responsivity and optical transit frequency are analyzed physically through illustrated several kinds of paramistic capacitors in BE junction and BC junction under different electrical bias, optical bias and combined electrical and optical bias in this work. The results show that three-terminal (3T) working mode with combined electrical bias and optical bias in base achieves a highest maxim fT of 120GHz at collector current of 30mA and keeps the same optical responsivity (37.5A/W) compared with two-terminal (2T) working mode.