SOL (Short, Open and Load) calibration based on iterative error sensitivity is proposed in this paper. With advanced SOL calibration, unknown parasitic parameters at on-chip terminations are accurately estimated up to 20 GHz. Artificial terminations are designed on printed circuit board (PCB) to experiment the proposed method. On-chip SHORT, OPEN and LOAD fabricated inside silicon shows the accuracy of proposed calibration method through the comparison with known fixture Sparameter after de-embedding.