A simple and efficient approach to suppress undesirable self-phase modulation (SPM) of optical pulses propagating in fiber-optic systems is based on imposing a sinusoidal temporal phase modulation on the pulses to offset the chirp generated by SPM (Audo et al. 2017). Here, we present a detailed analysis of this method. We derive an exact formula for the reduction of the SPM-induced rms spectrum broadening of an initially Gaussian pulse enabled by the sinusoidal compensation, and we assess the effects of the initial pulse shape and duration on the effectiveness of the technique by means of numerical simulation. The differences between pre-and post-propagation compensation schemes are also discussed.