We discuss the recently developed hybrid silicon evanescent platform (HSEP), and its application as a promising candidate for optical interconnects in silicon. A number of key discrete components and a wafer-scale integration process are reviewed. The motivation behind this work is to realize silicon-based photonic integrated circuits possessing unique advantages of III-V materials and silicon-oninsulator waveguides simultaneously through a complementary metal-oxide semiconductor fabrication process. Electrically pumped hybrid silicon distributed feedback and distributed Bragg reflector lasers with integrated hybrid silicon photodetectors are demonstrated coupled to SOI waveguides, serving as the reliable on-chip single-frequency light sources. For the external signal processing, MachZehnder interferometer modulators are demonstrated, showing a resistance-capacitance-limited, 3 dB electrical bandwidth up to 8 GHz and a modulation efficiency of 1.5 V mm. The successful implementation of quantum well intermixing technique opens up the possibility to realize multiple III-V bandgaps in this platform. Sampled grating DBR devices integrated with electroabsorption modulators (EAM) are fabricated, where the bandgaps in gain, mirror, and EAM re-