The possible role of customized MOS varactors in amplification, mixing, and frequency control of future millimeter wave CMOS RFICs is outlined. First, the parametric conversion concept is revisited and discussed in terms of modern RF communications systems. Second, the modeling, design, and optimization of MOS varactors are reconsidered in the context of their central role in parametric circuits. Third, a balanced varactor structure is proposed for robust oscillator frequency control in the presence of large extrinsic noise expected in tightly integrated wireless communicators. Main points include the proposal of a subharmonic pumping scheme based on the MOS varactor, a nonequilibrium elastance-voltage model, optimal varactor layout suggestions, custom 0.13 µm-CMOS varactor design and measurement, device-level balanced varactor simulations, and parametric circuit evaluation based on measured device characteristics.