In this paper the novel method of "weighted OFDM" is addressed. Different types of weighting factors (including Rectangular, Bartlett, Gaussian, Raised cosine, Half-sin and Shanon) are considered. The impact of weighting of OFDM on the peak-to-average power ratio (PAPR) is investigated by means of simulation and is compared for the above mentioned weighting factors. Results show that by weighting of the OFDM signal the PAPR reduces. Bit error performance of weighted multicarrier transmission over a multipath channel is also investigated. Results indicate that there is a trade off between PAPR reduction and bit error performance degradation by weighting.