The goal of this study was to examine the nature of envelope extraction in the discrimination of high-frequency waveforms on the basis of envelope delay. Threshold interaural envelope delays were measured for complexes consisting of three or five components for which the starting phases of all sinusoids were either sine phase or randomized between intervals of a two-alternative forced-choice (2-AFC) task. the center frequency was 4 kHz and the frequency separation was varied from 25 to 500 Hz. The results showed that thresholds were greater for the phase-randomized conditions than the sine-phase conditions. The phase effect tended to diminish with increasing frequency separation for three-component complexes but not for the five-component complexes. Sensitivity to envelope delay was better for five-component complexes than for three-component complexes at most frequency separations. In general, the results showed superior lateralization performance for conditions in which the envelope fluctuations were greater, a finding that is consistent with models of high-frequency binaural processing that include envelope extraction prior to binaural comparison.