High-power and high-linearity photodiodes (PDs) are of critical importance to achieve high-efficiency analogue fibre links. A small-signal analysis is utilised on the nonlinear responsivity of the modified uni-travelling-carrier PDs to understand the theoretical limitation on the third-order output intercept point (OIP3) of the link. It is theoretically shown that a nonlinear responsivity depending on both the voltage and the current can give rise to an enhanced OIP3 at certain bias and current values.