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A broadband dispersion compensation scheme based on a 2-Ch phase modulator (2-Ch PM) is proposed and experimentally demonstrated in the long-haul analog optical link. Benefiting from the complementary power fading function for the phase and intensity modulated link, which are simultaneously obtained by using the 2-Ch PM, the broadband and long-reach dispersion compensation is implemented. The experimental results show that the dispersion-induced power fading is greatly mitigated for the radio frequency (RF) signal with a bandwidth up to 18 GHz over 24.45-km single-mode fiber (SMF) transmission. Meanwhile, the system spurious-free dynamic range (SFDR) is improved with a maximum value of 24 at the frequency of 17.5 GHz; the vector signal transmission performance has also been improved.