A subthreshold low power, low phase-noise voltage controlled oscillator (VCO) is demonstrated in a commercial 0.18 mum CMOS process. In subthreshold regime, MOS drain current is dominated by diffusion mechanism resulting in a high ratio of transconductance to drain current and suppressed phase noise. Therefore, low power and low phase noise characteristics are achieved without using nonconventional high passive components. The VCO measures a phase noise of -106 dBc/Hz at 400 kHz offset from 2.63 GHz oscillation frequency with 0.43 mW power dissipation drawn from 0.45 V power supply. Figures of merit for this VCO (power-frequency-normalized of 12 dB and power frequency-tuning-normalized of -10 dB) are among the best reported for CMOS oscillators.