A　novel　photonics-assisted　method　for　frequency　up/down-conversion　based　on　an　integrated　dual-polarization　dual-parallel　Mach-Zehnder　modulator　(DP-DPMZM)　with　tunable　optoelectronic　oscillator　(OEO)　and　phase　shift　is　presented.　The　local　oscillator　(LO)　signal　with　high　spectral　purity　and　low　phase　noise　is　generated　by　an　OEO　loop　in　one　of　the　sub-DPMZMs.　The　frequency　can　be　adjusted　by　an　electrical　bandpass　filter　(EBPF).　The　radio　frequency　(RF)　signal　is　injected　into　another　sub-DPMZM.　The　carrier-suppressed　singlesideband　(CS-SSB)　modulation　of　both　the　LO　and　RF　signals　is　achieved.　The　phase　of　the　converted　signal　can　be　tuned　by　an　integrated　dual-channel　phase　modulator　(DPM).　Frequency　up/down-conversion　can　be　switched　by　tuning　a　single　bias　voltage　of　the　DP-DPMZM.　Multiple　functions,　including　tunable　LO　signal　generation,　up/down-conversion　and　phase　shifting,　can　be　realized.　Moreover,　dispersion-induced　power　fading　is　well　compensated　due　to　CS-SSB　modulation.　In　the　experiments,　the　tunable　LO　signal　from　5　to　18　GHz,　with　a　sidemode　suppression　ratio　as　high　as　46.1　dB　and　a　phase　noise　level　of-104.5　dBc/Hz@　10　kHz　at　10　GHz,　is　generated　successfully.　The　spur　suppression　ratios　of　the　up/down-converted　signals　are　32.6　dB　and　35.6　dB,　respectively.　The　up/down　conversion　performance　forRFcarrying　16　quadrature　amplitude　modulation　(16-QAM)　signal　is　also　investigated.　The　phase　shifting　of　dual-channel　converted　signals　can　be　varied　continuously　and　independently　in　the　range　of　0-360　degrees,　and　the　phase　deviation　is　+/-　1.8　degrees.　The　proposed　compact　link　is　characterized　by　function　multiplexing　and　inherent　dispersion　compensation.