A novel compact optoelectronic oscillator (OEO) employing a Fabry–Perot (FP) resonant electro-optic (EO) modulator is proposed and experimentally demonstrated. The resonant modulator is used as the optical storage element as well as the mode selection element, which can greatly reduce the system complexity and make the system more portable. Moreover, the optical resonance and electrical transmission response for the FP resonant EO modulator are theoretically and experimentally studied. The proposed OEO oscillates at 10 and 20 GHz in the proof-of-concept experiment, and the corresponding single-sideband phase noise can reach below 118 and 108 dBc/Hz at 1 MHz offset frequency, respectively.