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This work presents an algorithm for joint estimation of carrier-frequency offset and timing offset for orthogonal frequency-division multiplexing (OFDM) systems in the tracking mode. The proposed weighted least-squares algorithm derives its estimates based on phase differences in the received pilot subcarrier signals between two symbols. Moreover, the optimal weights in two different channel conditions are derived. Both analysis and simulation show that the weighted least-squares algorithm can effectively and accurately estimate the carrier-frequency offset as well as the timing offset of OFDM signals in multipath fading channels.