Dynamic gain and phase compensation is provided in a radio frequency (RF) receiver (106) including at least one switched Low Noise Amplifier (LNA) (212) coupled to an RF gain control unit (226) providing a gain control signal to the at least one switched LNA (212) for control thereof. The RF receiver also includes an analog-to-digital (A/D) converter (222) for digitizing the RF signal and outputting an N-bit digital signal to the RF gain control unit (226). The method for gain compensation includes dynamically adjusting the N-bit digital signal to compensate for the at least one switched LNA (212) in response to the gain control signal. The method for phase compensation includes dynamically normalizing the N-bit digital signal into an M-bit signal range to derive an M-bit digital signal, where M.ltoreq.N and dynamically phase adjusting the M-bit digital signal to compensate for the at least one switched LNA (212) in response to the gain control signal.