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We introduce and investigate the feasibility of a noniterative phase noise induced intercarrier interference (ICI) compensation scheme based on linear interpolation for coherent optical orthogonal frequency-division-multiplexing (CO-OFDM) transport systems. The study of bit-error-rate (BER) performance for a 40-Gb/s 16-quadrature amplitude modulation (QAM) CO-OFDM signal demonstrates a significant improvement versus the conventional equalizer (CE) in the optical signal-to-noise ratio (OSNR) requirement. Moreover, the capability of this equalizer in conjunction with the back-propagation (BP) nonlinearity compensation scheme is investigated and a brief analysis of the computational complexity, in terms of the number of required complex multiplications, is provided. This practical approach does not suffer from error propagation while enjoying low computational complexity.