A novel wavelength triplexer based on Channel-Shaped Multimode Interference (C-MMI) structures on the InP platform is proposed for multi-channel integration compatibility in a 50G passive optical network (PON) system. Performance analysis of the proposed device is carried out by using the 3D Beam Propagation Method (3D-BPM), which shows excellent properties with insertion loss < 0.5 dB and low crosstalk < −14 dB for the 1342 nm in the Original band (1260–1360 nm), 1490 nm in the Short wavelength band (1460–1530 nm), and 1577 nm in the Long wavelength band (1565–1625 nm), also known as the OSL wavelengths band. Furthermore, the passbands of the three downlink channels of 1342 nm, 1490 nm, and 1577 nm, reach 14 nm, 20 nm, and 64 nm, respectively, which is wide enough to meet the 50G PON optical line terminal (OLT) requirement. Additionally, the proposed device is extremely compact with a total length of only 448 μm, making it attractive in the monolithic integrated laser chip and OLT packaged module.