In this paper, we propose a PON-based access network based on conventional TDM-PON architecture for the smooth, economical and effective transition to the future optical access network. We also propose a dynamic MAC protocol for wavelength channel and bandwidth allocation in the TDM-PON subscriber networks, which can provide enhanced network scalability and flexibility, and greater adaptability to the increasing number of subscribers in TDM-PON. In the proposed dynamic MAC protocol, several key functions are manifested, such as multiple wavelength channel utilization and dynamic allocation of multiple time-slots to a user depending on SLA between OLT and ONUs to meet QoS requirements. A dedicated control channel is used for delivering the request and status information between OLT and ONUs. We evaluate the performances of the proposed MAC protocol thru a statistical queuing analysis and numerical simulations. In addition, through simulations using various traffic models we verify the superior performance of the proposed approach by comparing it with conventional TDM-PONs.