We present an analysis of highly-dispersive guided modes of two-dimensional photonic crystal waveguides. By the plane ave expansion method, band structures and mode profiles of two-dimensional photonic crystal waveguides are obtained. It is found that guided modes have very small group velocities and very large group velocity dispersions in the region near the f-point and in the region near the Brillouin zone edge. Especially, the group velocity dispersions are found to be millions of times larger than that of a conventional optical fiber. The contributions of the transverse resonance formed by two photonic band gap reflectors and the standing wave mode formed by periodic structures are discussed. We conclude that the highly-dispersive characteristics originate from the resonator-like aspect of the photonic crystal waveguide.