A delta-sigma modulator having a first integrator for integrating an input signal; an analog-to-digital converter for converting the integrated signal into a digital signal; a delay circuit for delaying an output signal of the analog-to-digital converter; and a differential delay circuit for differentially delaying the output signal of the analog-to-digital converter. More particularly, the delta-sigma modulator has low distortion characteristics suitable for multi-bit fast operation, wherein a feedback signal is delayed by one clock period through the delay circuit and the differential delay circuit.