A fiber-based, magneto-optic (MO) optical modulator or switch based on Sagnac interferometry is provided. The system uses a magneto-optic Faraday rotator (MOFR) to produce optical modulation with low magnetic fields. The Sagnac geometry allows for increased modulation at lower fields than traditional MO modulators. This switch uses the MOFR to create different states of polarization in counter-propagating waves, which results in interference at the output port. A magnetic field is used to control the amount of rotation in the state of polarization (SOP), and therefore, the ON-OFF extinction ratio.