A method for manufacturing a hybrid SOI/bulk substrate, including the steps of starting from an SOI wafer comprising a single-crystal semiconductor layer called SOI layer, on an insulating layer, on a single-crystal semiconductor substrate; depositing on the SOI layer at least one masking layer and forming openings crossing the masking layer, the SOI layer, and the insulating layer, to reach the substrate; growing by a repeated alternation of selective epitaxy and partial etching steps a semiconductor material; and etching insulating trenches surrounding said openings filled with semiconductor material, while encroaching inwards over the periphery of the openings.