The local oscillator phase noise can severely affect the performance of OFDM systems. In this paper a new method is presented for compensation of this phase noise. The method is based on the fact that the scattered pilots, which are used for channel estimation, are subject to the same phase error as the OFDM symbols. Least square approach is used to exploit the phase noise information that exists in the scattered pilots and compensate the phase noise on the OFDM symbols. Simulation results show that the method is very effective, especially in high SNR.