Abstract: To tackle “Broadband” applications, high spectral efficiency is the foremost requirement in any wireless domain. Orthogonal Frequency Division Multiplexing (OFDM) promises to be the solution for transmitting and maintaining large amount of data with a high data rate. High Peak-to-Average Power Ratio (PAPR) is the challenging issue with OFDM system. Partial Transmit Sequence (PTS) algorithm is utilized in OFDM system which provides low PAPR and mitigates the out of band radiation in OFDM system. Hence, in this study, a Simulink model of OFDM was built using PTS algorithm to reduce the PAPR. Comparison analysis was carried out for different subcarrier values adopting various modulation schemes and from the graphs plotted, it was observed that there was a reduction in the PAPR value with the increase in the number of subcarriers.