Monolithic integration of III-V compound semiconductors on silicon is highly sought after for high-speed, low-power-consumption silicon photonics and low-cost, light-weight photovoltaics. Here we present a GaAs/Si direct fusion bonding technique to provide highly conductive and transparent heterojunctions by heterointerfacial band engineering in relation to doping concentrations. Metal- and oxide-free GaAs/Si ohmic heterojunctions have been formed at 300°C; sufficiently low to inhibit active material degradation. We have demonstrated 1.3 μm InAs/GaAs quantum dot lasers on Si substrates with the lowest threshold current density of any laser on Si to date, and AlGaAs/Si dual-junction solar cells, by p-GaAs/p-Si and p-GaAs/n-Si bonding, respectively. Our direct semiconductor bonding technique opens up a new pathway for realizing ultrahigh efficiency multijunction solar cells with ideal bandgap combinations that are free from lattice-match restrictions required in conventional heteroepitaxy, as well as enabling the creation of novel high performance and practical optoelectronic devices by III-V/Si hybrid integration.