A K-band CMOS voltage-controlled oscillator (VCO) is implemented with a 0.18-µm radio frequency CMOS process. For low supply voltage operation, a transformer-feedback topology using a transformer is proposed. The analysis of the transformer-feedback VCO is presented. This shows that the inductance ratio of the transformer must be optimized, and asymmetric-width transformers allow the easy optimization and the high Q-factor. Based on this analysis, the transformer design consideration of the transformer feedback VCO is presented. The VCO operates at 24.27 GHz with the phase noise of −100.33 dBc/ Hz at 1-MHz offset, and it consumes 7.8 mW from a 0.65-V supply voltage.