An optical waveguide and a bi-directional transceiver are provided. A single mode optical fiber has one end coupled to one end of a hollow optical fiber and an opposite end having a slope plane, thereby separating optical signals travelling in opposite directions from each other. Manual alignment for an optical system is easily realized without the need for additional optical elements, so that the light transmission/reception performance of the optical waveguide is improved and the structure of the optical waveguide is smaller.