Accurate modeling and efficient parameter extraction of the small signal equivalent circuit of submicrometer MOS transistors for high-frequency operation are presented. The equivalent circuit is based on a quasi-static approximation which was found to be adequate in the gigahertz range if the extrinsic components are properly modeled. It includes the complete intrinsic quasi-static MOS model, the series resistances of gate, source, and drain, and a substrate coupling network. Direct extraction is performed by Y-parameter analysis on the equivalent circuit in the linear and saturation regions of operation. The extracted results are physically meaningful and can be used to de-embed the extrinsic effects such as the substrate coupling within the device. Good agreement has been obtained between the simulation results of the equivalent circuit and measured data up to 10 GHz.