We describe a new technique for extracting the intrinsic laser-diode dynamic properties accurately. This simple technique eliminates the need for accurate microwave calibration of the test equipment and problems of microwave reflections, nonideal frequency response of laser mount, and detector. The effect of the parasitic components of the laser diode are also eliminated from the results so that measurements of important dynamic properties of the laser can be found up to high frequencies (10-20 GHz) on standard laser diodes. We show the technique being used to measure variations of resonance peak and damping factor at different bias levels for a standard bulk active region 1.3-mu-m laser diode.