A device containing a microcavity organic light‐emitting diode (OLED) and a magnetooptically active bismuth iron garnet (BIG) Bi3Fe5O12 waveguide combines a planar source for polarized light generation with the material exhibiting the highest known Faraday rotation at room temperature. To build such a device an optimization of garnets and OLEDs has to be done. For a good functionality of the device it is essential to maximize the light coupled from the OLED into the waveguide and to seperate s‐ and p‐polarized emitted light. To optimize the OLED emisson numerical simulations have been performed where material and thickness of the metal anode, as well as the thickness of the hole and the electron conducting layers were varied. The stacks with the best separation of s‐ and p‐polarized light and the highest coupling into the waveguide were determined, fabricated, and characterized regarding their electrical and optical properties. OLEDs have to be deposited on plane surfaces for exhibiting low leakage currents and thus being functional. In order to get plane and crack free BIG surfaces the garnet growth and surface formation were examined on various gadolinium gallium garnet (GGG) Gd3 Ga5 O12 and buffered non‐garnet substrates. GGG substrates with different cuts and lattice constants were characterized as well as yttrium iron garnet (YIG) Y3Fe5O12 and GGG buffered sapphire, silicon, and fused silica substrates. The garnet had to be structured to fabricate a planar waveguide. Therefore laser structuring and plasma etching techniques were utilized. The structured garnets were characterized regarding the wall roughness. The optical constants of YIG and BIG were determined from films deposited on silicon using ellipsometric measurements. The combination of microcavity OLED and garnet waveguide resulted in an integrated magnetooptical modulator whose functionality has been proven by applying an external magnetic field and measuring the rotation of the polarized light.