A high-speed equalizer based on a new algorithm: stop-and-go-DD-LMS CMA (SGLMS-CMA) for quadrature amplitude modulation (QAM) signals ispresented. It integrates conventional constant modulus algorithm (CMA) and decision-direct least-mean-square (DD-LMS) under stop-and-go principle. Matlab simulations indicate that, compared with conventional CMA,the new algorithm performs five times faster in convergence speed, 3-5dB improved in rudimental mean square error (MSE), 82% decreased in operation complexity and can correct a final phase ambiguity. As to the equalizer block in the system,synthesis results show that the SGLMS-CMA + DD-LMS equalizer's hardware consumption is only 5% greater than the CMA+ DD-LMS equalizer' s. Finally by using SMIC 0.18μm library to synthesis, the new equalizer is embedded into QAM demodulation chip,and test results show that the new equalizer acts better.