In this paper, the authors propose an advanced MIMO-OFDM (Multiple-Input Multiple-Output Orthogonal Frequency Division Multiplexing) reconfigurable architecture along with companding transform. The reconfigurable architecture uses switching algorithm between MIMO diversity and special multiplexing which allows selecting the MIMO configuration and improves the BER. The major drawback of OFDM system is Peak to Average Power Ratio (PAPR). Many techniques were developed to reduce PAPR. Considering all available PAPR reduction techniques, companding transform is attractive technique for its simplicity.