A circuit and a method for baseline wandering compensation for solving the problem of baseline wandering in receivers of a communication system are provided. Two paths of baseline wandering compensation are provided on the basis of a slicer error. One of the paths adjusts a direct current (DC) bias of an input signal, and the other path adjusts the determining levels of the slicer, and thus, the present invention avoids input saturation of an analog-to-digital converter, enhances the signal-to-noise ratio, and achieves a precise baseline wandering compensation.