In this work, detailed design and realization of high quality factor (Q) racetrack resonators based on silicon-on-insulator rib waveguides are presented. Aiming to achieve critical coupling, suitable waveguide geometry is determined after extensive numerical studies of bending loss. The final design is obtained after coupling factor calculations and estimation of propagation loss. Resonators with quality factors (Q) as high as 119000 has been achieved, the highest Q value for resonators based on silicon-on-insulator rib waveguides to date with extinction ratios as large as 12 dB.