This work analyses circuit phase delay for carrier-modulation MEMS capacitive gyroscopes. The temperature-dependent circuit phase delay is a major source of gyroscope output drift, which deteriorates the gyroscope bias instability (BI) and angle random walk (ARW). Effects of both drive-mode and sense-mode circuit phase delay on gyroscope performance when using different signal extraction architectures are analyzed in detail. The online suppression method which combines the so-called modified double sideband (MDSB) extraction architecture in the gyroscope drive mode and closed-loop force-rebalance loop in the sense mode can eliminate the impact of residual fluctuation error of circuit phase delay in real time. When drive-mode circuit phase delay equivalently varies from −20° to 20°, using MDSB decreases the fluctuation of the open-loop zero-rate output (ZRO) by 70% compared to using double sideband (DSB) and by 99.7% with respect to using single sideband (SSB). Meanwhile, improvement for the closed-loop ZRO using MDSB is 92.48% and 94% compared to cases using DSB and SSB, respectively. Furthermore, when the equivalent circuit phase delay of the sense-mode alters from −20° to 20°, ZRO variation for the gyroscope with force rebalanced sense loop and quadrature stiffness nulling loop decreases by 80% in contrast to the case with open loop, which demonstrates the effectiveness of online suppression for circuit phase delay of both the drive-mode and sense-mode. Using the online suppression method, the gyroscope has achieved a BI of 0.16° h−1 and ARW of 0.011° (√h)−1. Furthermore, using the MDSB in the drive mode obtains the best stability compared to using the DSB and SSB as the temperature changes.