In this paper, we propose a new joint transmit/receive equalization technique for single-carrier (SC) block transmissions in a severe frequency-selective fading channel. An iterative frequency domain inter-symbol interference cancellation (FDIC) is introduced to the joint transmit/receive (Tx/Rx) frequency-domain equalization (FDE) based on the minimum mean square error (MMSE) criterion which was previously proposed by authors. At a receiver, a 1-tap FDE and FDIC are jointly used and they are updated in an iterative manner to achieve larger frequency diversity gain. Since the transmit FDE weight cannot be updated, we introduce a virtual receiver having a receive FDE & FDIC into the transmitter. In the virtual receiver at the transmitter, the same degree of the residual ISI cancellation is assumed to compute the transmit FDE weight, based on the MMSE criterion, matched to the receive FDE & FDIC. The computer simulation results show that the bit error rate (BER) performance is significantly improved by using our proposed scheme.