In this paper, we propose a new code set which has very low spectral peak to average ratio (SPAR) and good correlation properties for DS-UWB. The codes which have low SPAR are suitable for DS-UWB system which operates in UWB (3.110.4 GHz) because they can utilize more power than high SPAR codes can do. And, in order to reduce inter symbol interference (ISI) and inter piconet interferences, the codes which have good auto- and cross-correlation properties must be used. In this paper, we propose three items; (1) a new code generation method which can generate good SPAR and auto-correlation codes, (2) code selection criteria, and (3) a code set, which has been selected according to the proposed selection criteria. The proposed code set has SPAR reduced about 0.22 dB and GMF improved by 30% compared to the previous code set while it is maintaining almost same cross-correlation properties. Each code of the proposed code set, therefore, has gained 1.43 dB SIR on an average compared to that of the previous code set.