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A nonreciprocal polarization converter compatible with InP-based photonic integrated circuits is proposed. The device consists of an asymmetric InGaAsP waveguide combined with a ferrimagnetic cerium-substituted yttrium iron garnet layer. It makes use of the nonreciprocal conversion of the polarization state in the waveguide. A nonreciprocal TE-TM conversion efficiency of 93% at 1.55 mum wavelength can be obtained with a device length of 0.27 mm.