A varicap diode, varactor diode, variable capacitance diode, variable reactance diode or tuning diode is a type of diode designed to exploit the voltage-dependent capacitance of a reverse-biased p–n junction.

Varactors are used as voltage-controlled capacitors. They are commonly used in voltage-controlled oscillators, parametric amplifiers, and frequency multipliers. Voltage-controlled oscillators have many applications such as frequency modulation for FM transmitters and phase-locked loops. Phase-locked loops are used for the frequency synthesizers that tune many radios, television sets, and cellular telephones.

The varicap was developed by the Pacific Semiconductor subsidiary of the Ramo Wooldridge Corporation who received a patent for the device in June 1961. The device name was also trademarked as the "Varicap" by TRW Semiconductors, the successor to Pacific Semiconductors, in October 1967. This helps explain the different names for the device as it came into use.^{[clarification needed]}

Varactors are operated in a reverse-biased state, so no DC current flows through the device. The amount of reverse bias controls the thickness of the depletion zone and therefore the varactor's junction capacitance. Capacitance change characteristic depends on doping profile. Generally, for abrupt junction profile, the depletion region thickness is proportional to the square root of the applied voltage, and capacitance is inversely proportional to the depletion region thickness. Thus, the capacitance is inversely proportional to the square root of applied voltage. For hyperabrupt junction profile capacitance change is more non-linear, but hyperabrupt varicaps have larger capacitance variation and can work with lower voltages.

All diodes exhibit this variable junction capacitance, but varactors are manufactured to exploit the effect and increase the capacitance variation.

The figure shows an example of a cross section of a varactor with the depletion layer formed of a p–n junction. This depletion layer can also be made of a MOS or a Schottky diode. This is important in CMOS and MMIC technology.

Generally the use of a varicap diode in a circuit requires connecting it to a tuned circuit, usually in parallel with any existing capacitance or inductance. A DC voltage is applied as reverse bias across the varicap to alter its capacitance. The DC bias voltage must be blocked from entering the tuned circuit. This can be accomplished by placing a DC blocking capacitor with a capacitance about 100 times greater than the maximum capacitance of the varicap diode in series with it and by applying DC from a high impedance source to the node between the varicap cathode and the blocking capacitor as shown in the upper left circuit in the accompanying diagram.

Since no significant DC current flows in the varicap, the value of the resistor connecting its cathode back to the DC control voltage resistor can be somewhere in the range of 22 kΩ to 150 kΩ and the blocking capacitor somewhere in the range of 5–100 nF. Sometimes, with very high-Q tuned circuits, an inductor is placed in series with the resistor to increase the source impedance of the control voltage so as not to load the tuned circuit and decrease its Q.