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This paper studies the detrimental effect of phase noise on the performance of orthogonal frequency division multiplexing (OFDM) transmissions over time-selective channels. In the literature, most of existing papers analyze the performance of OFDM systems in the presence of either time-selective channels or phase noise. Unlike the existing studies, this paper formulates an approximate expression of signal-to-interference-plus-noise ratio (SINR) at an OFDM receiver in the presence of both phase noise and time-selective channel response. The formulated SINR expression can be used as guidelines in determining appropriate OFDM transmission settings under a given quality-of-service (QoS) requirement. To illustrate the tightness of the approximate SINR formulation, empirical and theoretical values of SINR under different OFDM system settings are presented in this paper.