A simple analytical model has been presented for the study of the optical bistability using a $GaAs-Al_{0.32}Ga_{0.68}As$ multiple quantum well (MQW) p-i-n diode structure. The calculation of the optical absorption is based on a semi-emperical model which is accurately valid for a range of wells between 5 and 20 nm and the electric field F< 200kV/cm . The electric field dependent analytical expression for the responsivity is presented. An attempt has been made to derive the analytical relationship between the incident optical power ( $(P_{in})$ ) and the voltage V across the device when the diode is reverse biased by a power supply in series with a load resistor. The relationship between $P_{in}$ and $P_{out}$ (i.e. transmitted optical power) is also presented. Numerical results are presented for a typical case of well size $L_Z=10.5nm,;barrier;size;L_B=9.5nm$ optical wave length l = 851.7nm and electric field F? 100kV/cm. It has been shown that for the values of $P_{in}$ within certain range, the device changes its state in such a way that corresponding to every value of $P_{in}$ , two stable states and one unstable state of V as well as of $P_{out}$ are obtained which shows the optically controlled bistable nature of the device.