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Planar embedded InP/GaInAs p-i-n photodiodes have been fabricated by using preferential ion-beam etching for planarizing and embedding the p-i-n photodiode structure in a semi-insulating InP substrate. The stray capacitances caused by a bonding pad and an interconnection have been markedly reduced, which resulted in extremely low capacitance of less than 0.08 pF for a diameter of 20 μm of photosensitive area. It has been demonstrated by an optical heterodyne technique that the photodiode exhibits a maximum cutoff frequency of 14 GHz. This result was analyzed taking the depletion layer thickness into account and has been found to be dominated by the carrier transit time. The demonstrated low capacitance and high-speed response result indicates the suitability of the p-i-n photodiodes not only for a discrete p-i-n photodiode but also for optoelectronic integration.