A high performance continuous-wave (CW) backward wave oscillator (BWO) with planar slow wave structure (SWS) and sheet electron beam in Y-band is presented in this paper. The mode selection is discussed by studying the dispersion curve of SWSs, distributions of the electric field, and particle-in-cell simulation results, showing that the designed BWO operates in the fundamental mode TM11. The planar SWSs are fabricated by using the UV-LIGA technology with the processing error less than 0.003 mm. The electron gun can provide the 2.5 mm × 0.14 mm sheet electron beam with maximum current density of 57 A/cm2 at the CW mode. Experimental results show that the developed BWO can operate in the fundamental mode TM11 and generate the state-of-art output power of 182 mW at the frequency of 0.3426 THz with a large frequency tuning range from 0.318 THz to 0.359 THz.