ABSTRACT As a crucial enabler for the fifth-generation air interface, the filter bank multicarrier with offset quadrature amplitude modulation (FBMC/OQAM) is being investigated by several researchers. This article suggests using partial transmit sequence (PTS) and companding to create a hybrid peak-to-average power ratio (PAPR) reduction strategy for FBMC/OQAM signals. In the novel PTS Companding scheme, there are several segments to the data block signal, and the overlapping factor determines the number of data blocks in each segment. To obtain the lowest signal power in each segment, we choose the best data block to broadcast and examine the next overlapping data block concurrently. After that, the segment FBMC/OQAM signal peaks are compressed using companding. Based on simulation results and analysis, the proposed hybrid PTS Companding method in FBMC/OQAM systems may reduce PAPR more effectively than conventional PTS and Companding schemes. According to simulation results, the hybrid process can achieve around 5 dB greater PAPR performance than the conventional PTS and companding schemes.