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Instead of spread spectrum signals used for positioning in current global navigation satellite systems (GNSS), this paper presents a novel positioning method using OFDM signals for the next-generation GNSS. In contrast to the existing positioning methods with OFDM signals based on timing synchronization or super resolution algorithms, the proposed scheme uses the property of the OFDM signal itself in the frequency domain with respect to transmission delay, resulting in the accurate time of arrival (TOA) estimation. Computer simulations verify that the positioning accuracy of the proposed algorithm with bearable complexity can reach the Cramer-Rao lower bound (CRLB) in the range of medium to high signal-to-noise ratio (SNR). The accuracy achievable is in the order of centimeters, higher than that of the state-ofthe- art positioning methods using OFDM signals in the literature.