The large PAPR of orthogonal frequency division multiplexing (OFDM) transmission is one of the serious problems for mobile communications that require severe power saving. Iterative clipping and filtering is an effective method for the PAPR reduction of OFDM signals. This paper evaluates PAPR reduction effect with a graded band-limiting filter in the iterative clipping and filtering method. The evaluation result by computer simulation shows that the excellent peak reduction effect can be obtained in the fewer iteration numbers by using a roll-off filter instead of the conventional rectangular filter, and the iteration number with the roll-off filter achieving the same PAPR is fewer by twice. The result confirms that the clipping and filtering method by using a graded band-limiting filter can achieve low peak OFDM transmission with less computational complexity.