On-chip interconnects over an orthogonal grid of grounded shielding lines on the silicon substrate are characterized by full-wave electromagnetic simulation. The analysis is based on a unit cell of the periodic shielded interconnect structure. It is demonstrated that the shielding structure may help to significantly enhance the transmission characteristics of on-chip interconnects particularly in analog and mixed-signal integrated circuits with bulk substrate resistivity on the order of 10 Ω-cm. Simulation results for the extracted R, L, G, C transmission line parameters show a significant decrease in the frequency-dependence of the distributed shunt capacitance as well as decrease in shunt conductance with the shielding structure present, while the series inductance and series resistance parameters are nearly unaffected. An extension of the equivalent circuit model for the shunt admittance of unshielded on-chip interconnects to include the effects of shielding is also presented.