In this paper, a new blind equalization algorithm is proposed based on guard interval (GI)-restoral property for quadrature amplitude modulation (QAM) signals. The proposed algorithm utilizes existing redundancy in the time domain to completely eliminates inter-symbol-interference. We prove that the usage of GI-restoral property is sufficient to obtain a zeroforcing equalizer of the channel. The main advantage of this approach resides in its simplicity as the equalizer coefficients are estimated using a second-order least square fitting (LSF) scheme. The equalizer uses the LSF in the initial phase and then switches to a proposed constant modulus algorithm (CMA). The proposed CMA is constructed through the exploitation of a fully data information. To achieve a dramatic improvement in equalization performance, a modified CMA (MCMA) is proposed for OFDM systems based on cyclic prefixing approach. The resulting scheme provides a state-of-the-art low complexity with superior performance blind equalization. Extensive simulation shows tat LSF-MCMA has a better steady-state equalization performance than LSF-CMA.