This work presents a novel RF on-chip inductor that overcomes the problems with conventional large-sized inductors, which cannot be placed in an integrated circuit (IC) for large inductance values. The proposed inductor depends mainly on the meminductor, a new passive circuit element that has memory properties. This new circuit element is argued to be common in the nanoscale, where the dynamical properties of electrons and ions are likely to depend on the history of the system. Being nonlinear, it is shown that, by a suitable arrangement of meminductors and through appropriate initial values for their inductances, we can achieve a linear nanoscale inductor.