An iterative channel estimation and inter-carrier interference (ICI) cancellation process is provided for OFDM receivers, and more particularly for mobile OFDM receivers. The iterative process uses decision feedback to estimate both the channel gain and the ICI gains, the latter being the multiplicative gain applied to the adjacent sub-carriers. Thus the receiver performs equalization and ICI cancellation in an iterative fashion and is advantageous for estimating fast fading channels.