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A 40 Gb/s full serializer and deserializer（SerDes）transceiver with controller and physical layer（PHY）is presented.The controller mainly contains protocol transmission,forward error correction and user layer build-in self-test（BIST）.The physical coding sub-layer（PCS）provides the functions of 64/66encoder/decoder,PHY BIST,and polarity control.In the physical medium attachment（PMA）,both transmitter（TX）and receiver（RX）adopt quarter-rate architecture to relax the timing constraint and reduce power dissipation.The receiver utilizes the phase interpolator（PI）based clock and data recovery（CDR）with bang-bang phase detector（BBPD）to extract the synchronic clock for retiming and de-multiplexing.The multiple-MUX based 4-tap FFE and a two-stage cascade CTLE are employed to mitigate the inter-symbol interference（ISI）.In addition,a proposed 4:1 MUX is used to improve the output jitter performance and reduce the power consumption.Fabricated in a 65 nm CMOS technology,the full transceiver consumes890 mW at 40 Gb/s and occupies 12 mm2.The measurement results show that this transceiver can achieve bit error rate（BER）<10-12 after a 15.3 dB loss channel at 20 GHz.