A multi-channel optical equalizer for intersymbol interference mitigation compensates for single- or multi-wavelength channels simultaneously and requires few adjustable parameters. The optical equalizer also compensates for overshoots and signal transition degradations in semiconductor optical amplifiers. The equalizer unit uses one control signal for magnitude and one to control signal phase. The equalizer includes a controllable coupling ratio coupler for splitting the light into two portions and a controllable interferometer having two arms, one arm having an additional delay which is equal to an integer multiple of 1/.DELTA.f, where .DELTA.f is the channel spacing between adjacent wavelengths utilized in the optical system. The controllable interferometer has a controllable delay in a first or second arm for adjusting the relative phase of the light passing therethrough. A coupler combines the two signal portions from the first and second arms to form the equalized output signal. A multistage optical equalizer is implemented using a plurality of optical signal equalizers.