An optical modulator includes a waveguide structure forming a two-wave interferometer made of an electro-optical material, and two arms, a set of electrodes connected to a controllable electric source for applying an electric field on at least one of the arms of the interferometer, so as to vary the phase difference between light waves along one or the other of the two arms. The modulator includes two sets of electrodes placed respectively on each of the interferometer arms, one in the non-reversed region of the electro-optical material, the other in the reversed region, and a delay line placed between the control electronics of the electrode sets introducing a delay equal to the light propagation time in the first electrode set.