A new type of optical receiver design providing high sensitivity and high dynamic range is presented that employs a lossy noise-matching network and feedback type amplifier. The design is based on the noise figure concept using the four noise parameters of FET, which makes it easy to design multigigabit optical receivers by combining it with microwave CAD tools. The effects of matching network element value and group delay variation of the preamplifier on receiver sensitivities are addressed. The predicted receiver sensitivity including the effect of group delay is 27.1 dBm, which is the highest sensitivity for a 10 Gbit s-1 PIN-FET optical receiver reported to date.