Aspects of a method and system for frequency-shift based PCB-to-PCB communications may include, in a PCB comprising one or more receivers and one or more transmitters, adjusting one or more modulation frequencies and utilizing the adjusted modulation frequencies to generate transmit signals by the one or more transmitters based on received and/or generated modulation control information. One or more demodulation frequencies may be adjusted and utilized to generate intermediate frequency signals by the one or more receivers based on received and/or generated demodulation control information. The modulation control information and the demodulation control information may be received via a communication device comprising the PCB. The modulation control information and demodulation control information may be received on a link operating in a frequency band different from the transmit frequencies and the receive frequencies.