A novel transmission-type dispersion compensator based on a tilted chirped fiber grating pair is proposed. Using the mode coupling between two tilted chirped fiber Bragg grating cores, the proposed dispersion compensator provides a good degree of design freedom, as well as the merits of transmission-type fiber gratings. The dispersion characteristics of the proposed compensator are investigated using a coupled-mode equation and ray-optic equation. The tilt angle to maximize the mode coupling and phase matching condition for a resonant wavelength along the fiber grating are also analyzed. A simple analytical expression for the dispersion in the proposed dispersion compensator is derived using a ray-optics approach. A comparison of the dispersion results when using the simple analytic equation and coupled-mode equation shows a good agreement.