This paper presents a temperature and supply voltage variation-tolerant CMOS relaxation oscillator which is suitable for ultra-low power systems. A low-power low-cost half-period pre-charge compensation scheme is proposed to eliminate influences of the delay of the comparator and the RS latch on the frequency stability of the relaxation oscillator. In a clock period consisting of four working stages including normal charge, discharge, pre-charge and hold stage, the threshold voltage of comparators is adjusted dynamically. A 32.7-kHz relaxation oscillator with the proposed half-period pre-charge compensation scheme is implemented in a TSMC 0.18-μm CMOS process, occupying a silicon area of 0.048 mm2. Simulation results show that the proposed relaxation oscillator consumes 51-nW at room temperature from 0.6-V power supply, and temperature stability of 43.1 ppm/°C from -55 °C to 125 °C and ±0.60% frequency variation with supply voltage from 0.5 V to 1.0 V are achieved.