In this paper, a compact metamaterial inspired dual band antenna is proposed for WLAN and WiMAX applications. The antenna consists of Square Split Ring Resonator structure with a defected ground plane and slots to enhance the bandwidth and gain parameters. Metamaterial based Microstrip patch antenna produces unique electromagnetic properties that allows us to control over the antenna parameters with a compact size. FR-4 epoxy is used as substrate its dielectric constant is 4.4 and loss tangent is 0.02. Dimensions of the antenna are 20 x 12 x 1.6mm3 with very compact size and cost effective. The proposed metamaterial based antenna resonates at dual bands at 5.13GHz and 5.53 GHz with impedance bandwidth of (|S11|<-10 dB) 4.96-5.26 GHz (300MHz) and 5.34-5.69 GHz (350MHz) respectively. The peak gains at resonant frequencies 5.13 GHz and 5.53 GHz are 1.61 dB and 1.62dB respectively. The proposed metamaterial based compact antenna can effectively work for WLAN and WiMAX application.