Disclosed is a silicon-on-insulator-based Schottky barrier diode with a low forward voltage that can be manufactured according to standard SOI process flow. An active silicon island is formed using an SOI wafer. One area of the island is heavily-doped with an n-type or p-type dopant, one area is lightly-doped with the same dopant, and an isolation structure is formed on the top surface above a junction between the two areas. A metal silicide region contacts the lightly-doped side of the island forming a Schottky barrier. Another discrete metal silicide region contacts the heavily-doped area of the island forming an electrode to the Schottky barrier (i.e., a Schottky barrier contact). The two metal silicide regions are isolated from each other by the isolation structure. Contacts to each of the discrete metal silicide regions allow a forward and/or a reverse bias to be applied to the Schottky barrier.