Germanium/Silicon-Germanium (Ge/SiGe) multiple quantum wells receive great attention for the realization of Si-based optical modulators, photodetectors, and light emitters for short distance optical interconnects on Si chips. Ge quantum wells incorporated between SiGe barriers, allowing a strong electro-absorption mechanism of the quantum-confined Stark effect (QCSE) within telecommunication wavelengths. In this review, we respectively discuss the current state of knowledge and progress of developing optical modulators, photodetectors, and emitters based on Ge/SiGe quantum wells. Key performance parameters, including extinction ratio, optical loss, swing bias voltages, and electric fields, and modulation bandwidth for optical modulators, dark currents, and optical responsivities for photodetectors, and emission characteristics of the structures will be presented.