The invention provides an iterative clipping and filtering method for reducing the peak-to-average ratio of an OFDM signals. The method comprises the steps of: firstly, calculating OFDM time domain signal power, and carrying out clipping on the real parts and imaginary parts of the OFDMs exceeding a power threshold P0 according to a clipping factor [alpha]; secondly, converting the OFDM time domain signals after the clipping into OFDM frequency domain signals by means of FFT conversion, and carrying out frequency domain filtering; then converting the signals after the frequency domain filtering into OFDM time domain signals by means of IFFT conversion, and finishing one time of iterative clipping and filtering processing; and finally, according to a maximum iterative number, repeating the above iterative clipping and filtering process. In the method, an OFDM system does not need to transmit additional information, additional processing on the OFDM signals on a receiving end for compensating the influences of the clipping processing on a sending end is not needed, the clipping factor [alpha] is suitably selected, the clipping processing is completed only by means of additive operation, and frequency domain filtering can be directly carried out on the processing result by means of the FFT conversion; in addition, in the iterative clipping and filtering process, a work clock multiplexing FFT/IFFT conversion unit higher than a sampling rate is adopted, and realization resources inhibited by the peak-to-average ratio are saved.