An orthogonal Frequency Division Multiplexing signal has many advantages and disadvantages. One of the major problems of OFDM system is the high Peak-to-Average Power Ratio (PAPR) of the transmitted OFDM signal. In this thesis, I have used the autocorrelation properties of CAZAC Sequence, and then proposed a method to reduce the PAPR in OFDM systems based on CAZAC Transform Matrix method. I have also explained proposed solution of synchronization and equalization task for CAZAC OFDM system which are long preamble and short preamble methods. In these thesis simulation results show that OFDM signal constellation points, real part of the system and CAZAC transform can significantly reduce the PAPR of the transmitted signal with easy implementation. The thesis starts with study of ordinary OFDM system and its statistics that is histogram, cumulative density function and complementary cumulative density function. By using CAZAC Transform Matrix method, I have reduced PAPR for the OFDM system. Then for this new system, I have done synchronization and equalization process.