Recently, Indium Tin Oxide, a highly transparent, well conductive, and CMOS-compatible material, has been paying strong attention to the thermo-optic controlled silicon photonics industry because it allows a miniature of the gap between the core silicon and the heater, thus enabling reducing the electric power consumption and enhancing the switching speed. In this article, we propose an ultralow loss and small-size ITO microheater for the phase shift tuning. The designated microheater is manipulated in realizing a numerical co-design of compact and high bandwidth three-mode converter and three-mode selective router. Simulation results illustrate the 3-dB bandwidth for the three-mode converter and three-mode selective router as much as 100-nm and 40-nm during crosstalk under -25 dB, respectively. Besides, co-designed devices attain relatively large fabrication tolerances corresponding to width and height tolerances of ±50 nm and ±5 nm. In addition, the proposed devices consumed less than 90 mW total power consumption and took a fast switching time below 8 μs. Moreover, both two co-designs can be integrated into an estimated compact footprint of 8 μm2160 μm. Such excellent performances demonstrate the attractive potential of ITO as low-loss thermo-optic phase shifters and open an alternative way for enabling ultrafast and high-speed mode division multiplexing systems and very large-scale photonic integrated circuits.