High-frequency characterization and delay-time analysis have been performed for a short channel AlGaN/GaN heterojunction FET. The fabricated device with a short gate length (Lg) of 0.07 µm exhibited an extrinsic current gain cutoff frequency of 81 GHz and a maximum frequency of oscillation of 190 GHz with a maximum stable gain (MSG) of 8.2 dB at 60 GHz. A new scheme for the delay-time analysis was proposed, in which the effects of rather large series resistance RS + RD are properly taken into account. By applying the new scheme to a device with Lg=0.25 µm, we obtained an effective high-field electron velocity of 1.75107 cm/s, which is consistent with our previous results calculated using Monte Carlo simulation.