An ultra-compact plasmonic unidirectional wavelength multiplexer/demultiplexer based on slot cavities is proposed and numerically simulated. The structure consists of slot cavities which are etched on either sides of a metal–insulator–metal (MIM) bus waveguide. The cavities capture surface plasmon polariton (SPP) waves at their resonant wavelengths and unidirectionally couples them to the drop waveguide etched parallel to the bus. The structure basically relies on resonance and interference of SPP waves and its functioning is validated through finite element method (FEM) simulations. The simulation results show that the proposed structure functions as expected with a full width at half maximum (FWHM) bandwidth of less than 50 nm, extinction ratio (ER) more than 10 dB, and crosstalk (CT) of less than − 10 dB for the designed wavelengths. The proposed structure holds lot of potential to enhance the miniaturization of ultra-compact integrated photonic circuits for optical signal processing and other related applications.