In present scenario due to the advent of e-business, high definition television (HDTV), online shopping and gaming, the internet traffic is increasing exponentially particularly in the access part of the optical network. In order to secure future, service providers have introduced fiber as a means of communication because of its high information carrying capacity, low cost and long reach. Next Generation Networks belong to Optical domain. Among various Hybrid optical networks, combination of hybrid Wave Division Multiplexing and Optical Time Division Multiplexing (WDM/OTDM) is backward compatible, which makes it the best candidate for next generation optical networks. By clubbing the features of WDM and OTDM, hybrid WDM/OTDM model has been designed that can satisfy the need of Next Generation Passive Optical Networks (NG PON) to a large extend.