An OFDM transmission system is reported based on a directly modulated blue LASER diode, for high bit rate underwater optical communication applications. The 256 subcarriers 16-QAM signal is transmitted over a total distance of 2.4 m underwater with an EVM lower than -28.5 dB for a 250 MHz bandwidth and -16.5 dB for a 2 GHz bandwidth, the BER being lower than the forward error corrector limit. At the maximum bandwidth of 2 GHz a transmission rate of 5.36 Gbit/s is achieved.