We analyzed and fabricated InP/InGaAs avalanche photodiode (APD) having floating guard ring (FGR). Since the FGR-APD is very simple to fabricate and highly reliable, the fabrication of FGR-APD and its application to the optical receiver are very useful and interesting. A double zinc diffusion was employed to fabricate and one dimensional electric field analysis was used for design. Two dimensional gain measurement showed that the FGR suppressed gain at the curved edge, indicating the successful behavior as a guard ring. The fabricated device had 35 GHz of gain-bandwidth product, and showed the sensitivity of -31.9 dBm at a bit error rate of $10^{-9}$ when it was applied to a 2.5 Gbps optical receiver.