In this paper, a systematic and statistical calibration technique was implemented to calibrate a high-speed signal converting system containing multiple digital-to-analog converters (DACs). The systematic error (especially the imbalance between DACs) in the current combining network of the multi-DAC system was modeled and corrected by calculating the path coefficients for individual DACs with wideband reference signals. Furthermore, by applying a Kalman filter to suppress noise from quantization and clock jitter, accurate coefficients with minimum noise were identified. For correcting an arbitrary waveform generator with two DACs, a co-simulation platform was implemented to estimate the system degradation and its corrected performance. Simulation results showed that after correction with 4.8 Gbps QAM signal, the signal-to-noise-ratio improved by approximately 4.5 dB and the error-vector-magnitude improved from 4.1% to 1.12% over 0.96 GHz bandwidth. This is an Open-Access article distributed under the terms of the Creative Commons Attribution Non-Commercial License (http://creativecommons.org/licenses/by-nc/3.0) which permits unrestricted non-commercial use, distribution, and reproduction in any medium, provided the original work is properly cited. ⓒ