We have fabricated the surface plasmon (SP) coupled GaN-based nanorod LEDs with Ag nanoparticles (Nps), and demonstrate the enhancement of the optical modulation bandwidth by SPs. Compared with the LED without Ag Nps, the optical modulation bandwidth of the LED with Ag Nps increases by a factor of ~2 at 57 A/cm2. The photoluminescence (PL) and electroluminescence (EL) experimental results are consistent with each other, and both suggest the effective coupling between quantum wells (QWs) and SPs. Furthermore, the current dependent modulation frequency characteristics show that the QW-SP coupling can increase the modulation bandwidth, especially for LEDs with high intrinsic internal quantum efficiency (IQE). These findings will help to open a new solution to design the ultrafast LED light source for the application of the visible light communication.