The cost of single channel rate improvement in traditional passive optical networks(PON)is increasing.Multi-channel PON could achieve higher bandwidth capacity by dynamic channel bonding and could further meet service diversity.The requirement and function of dy-namic channel bonding in current IEEE and ITU-T PON standards and the existing problems are analyzed.A transmission method including serialization transmission and order recovery for dynamic channel bonding in higher speed PON is provided.This method simplifies dynamic channel bonding processing and avoids the problem of bandwidth efficiency degradation.