— In this paper we discuss the effect of phase noise at both, transmitter and receiver in an OFDM system. We study an iterative equalization system at the receiver. The system is based on a joint linear MMSE estimation of the transmitter and receiver phase noise. We propose a receiver module which can be considered as a serial concatenation of an outer decoder with an inner phase noise correction/metric computation block. For intercarrier interference (ICI) suppression we introduce a method to only use the most reliable decoded symbols, which results in a significant performance improvement. The performance is shown by simulation results for different oscillator qualities and an ETSI HiperLan A channel.