We have numerically investigated the properties of an InP-on-SiC wafer as a photonic integrated circuit (PIC) platform. By bonding a thin InP-based semiconductor on a SiC wafer, SiC can be used as waveguide cladding, a heat sink, and a support substrate simultaneously. Since the refractive index of SiC is sufficiently low, PICs can be fabricated using InP-based strip and rib waveguides with a minimum bend radius of approximately 7 μm. High-thermal-conductivity SiC underneath an InP-based waveguide core markedly improves heat dissipation, resulting in superior thermal properties of active devices such as laser diodes. The InP-on-SiC wafer has significantly smaller thermal stress than InP-on-SiO2/Si wafer, which prevents the thermal degradation of InP-based devices during high-temperature processes. Thus, InP on SiC provides an ideal platform for high-performance PICs.