High-frequency signal oscillators are devices needed for a variety of scientific disciplines. One of their fundamental requirements is low phase noise in the micro- and millimeter wave ranges. The opto-electronic oscillator (OEO) is a good candidate for this, as it is capable of generating a signal with very low phase noise in the micro- and millimeter wave ranges. The OEO consists of an optical resonator with electrical feedback components. The optical components form a delay line, which has the advantage that the phase noise is independent of the oscillator’s frequency. Furthermore, by using a long delay line, the phase noise characteristics of the oscillator are improved. This makes it possible to widen the range of possible OEO applications. In this paper we have reviewed the state of the art for OEOs and micro- and millimeter wave signal generation as well as new developments for OEOs and the use of OEOs in a variety of applications. In addition, a possible implementation of a centralized OEO signal distribution as a local oscillator for a 5G radio access network (RAN) is demonstrated.