EXHIBIT 23 CONSENT OF ACCOUNTANTS The Board of Directors and Shareholders Mentor Graphics Corporation: We consent to incorporation by reference in the registration statements on Form S-8 (Nos. 33-11291, 33-18259, 2-90577, 33-30036, 2-99251, 33-30774, 33-57147, 33-57149, 33-57151 and 33-64717) and on Form S-3 (Nos. 33-52419, 33-56759, 33-60129 and 333-277) of Mentor Graphics Corporation and subsidiaries of our report dated January 31, 1995, relating to the consolidated balance sheets of Mentor Graphics Corporation and subsidiaries as of December 31, 1994 and 1993 and the related consolidated statements of operations, cash flows and stockholders' equity for each of the years in the three-year period ended December 31, 1994, which report appears in the December 31, 1994 annual report on Form 10-K/A Amendment No. 1 of Mentor Graphics Corporation and subsidiaries. Our report refers to a change in the method of accounting for certain investments in debt and equity securities and income taxes. KPMG PEAT MARWICK LLP Portland, Oregon March 13, 1996