The method includes: receiving a first Non Return to Zero (NRZ) data signal and a synchronous clock signal, and performing Return to Zero (RZ) processing to generate a first complementary RZ data signal pair; receiving a second NRZ data signal and a synchronous clock signal, and performing RZ processing to generate a second complementary RZ data signal pair; and modulating the first complementary RZ data signal pair and the second complementary RZ data signal pair on light to generate an RZ-Differential Quadrature Phase Shift Keying (RZ-DQPSK) optical signal. Through the method and device, RZ processing are performed on the NRZ data signals to generate the complementary RZ data signal pairs, and the complementary RZ data signal pairs are modulated on the light, thereby reducing the cost and the insertion loss of the entire device, lowering the requirements for input optical power and reducing the complexity of loop circuit control.