The RTS noise is assumed to be induced by quantum transitions of charge carriers from trap energy levels to both the conductivity and the valence bands. The charge state of the trap controls the channel conductivity in MOSFET’s. Formulas for the time constants describing the RTS noise in a general case of both n‐type and p‐type semiconductors have been derived. From the statistics of the time duration additional information on the generation‐recombination process is yielded. It is shown that microscopic processes related to quantum transitions are through the channel current modulation transformed into measurable quantities.