An oscillator circuit may include a local oscillator to generate a carrier signal having a tunable frequency, a first modulator and a power amplifier coupled in cascade to the local oscillator to generate an output signal. The first modulator may be activated from a first modulating signal having a first frequency alternatively defining ON and OFF states of the first modulator. An estimator unit may receive the carrier signal during a time window and detect an estimated frequency variation of the carrier signal during the ON and OFF states. A compensation unit may include a second modulator to generate a compensation signal proportional to the estimated frequency variation and modulated with a second modulating frequency. The second modulating frequency may be substantially the same as the first modulating frequency, and the compensation signal may be added to a bias signal of the local oscillator to tune the tunable frequency.