A varactor diode includes a portion of a top semiconductor layer of a semiconductor-on-insulator (SOI) substrate and a gate electrode located thereupon. A first electrode having a doping of a first conductivity type laterally abuts a doped semiconductor region having the first conductivity type, which laterally abuts a second electrode having a doping of a second conductivity type, which is the opposite of the first conductivity type. A hyperabrupt junction is formed between the second doped semiconductor region and the second electrode. The gate electrode controls the depletion of the first and second doped semiconductor regions, thereby varying the capacitance of the varactor diode. A design structure for the varactor diode is also provided.