Orthogonal Frequency Division Multiplexing (OFDM) is a digital multi-carrier modulation scheme thus finds wide application in the field of digital communication in recent years. This physical layer standard is perhaps the most spectrally efficient method discovered so far, and it mitigates the severe problem of multipath propagation that causes massive data errors and loss of signal in the microwave and UHF spectrum. But the high Peak-to-Average Power Ratio (PAPR) of OFDM signals has lead to deterioration in the performance of the system. Thus a number of techniques have been put forward to minimize the peak power. Of these, Clipping and Filtering (CF) is a very simple approach. In this paper, an improvement has been made to the classical method of Iterative CF (ICF).