Despite the great progress in data transmission systems using dielectric waveguides (DWGs) in the millimeter-wave (mm-wave) frequency band (30–300 GHz), the signal distortions caused by DWGs have not yet been fully understood. However, such investigations would help to optimize DWGs as a transmission channel in order to further increase data rate and transmission distance of such systems without the need for more complex transceivers. Therefore, this paper presents a detailed study of the expected signal distortions caused by frequency-dependent attenuation and frequency-dependent group delay of circular DWGs at mm-wave frequencies. Based on a low-complexity digital transmission system, the effects of DWGs on the signal-to-noise ratio and the intersymbol interference at the receiver are evaluated. The figures and equations given in this paper allow the reader to easily calculate the channel properties and signal distortions for a wide range of circular DWGs without the need of finite element method solver or other time-consuming numerical simulations. Finally, design recommendations are given to minimize signal distortions for transmitting signals along DWGs.