A baseband system includes: an estimation and compensation circuit estimating frequency-independent non-ideal effects based on an original IQ signal pair, and compensating the original IQ signal pair based on a result of the estimation to obtain a compensated IQ signal pair; a channel estimation and equalization circuit performing channel estimation and equalization based on the compensated IQ signal pair to obtain an equalized IQ signal pair; and a tracking and compensation circuit obtaining a result of tracking of residual quantities of the aforesaid non-ideal effects based on the equalized IQ signal pair, and compensating the equalized IQ signal pair based on the result of the tracking to obtain an output IQ signal pair.
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