A compensated peak-to-average ratio non-linear distortion new algorithm based on a compression perception technology belongs to the communication technology field. The algorithm comprises the following steps of (1) based on a CS theory, using an empty carrier wave to carry out peak-to-average ratio amplitude limiting compensation; and (2) carrying out OMP error tolerance value estimation based on an LS algorithm. The algorithm has advantages that (1) a receiver can accurately recover an amplitude of a signal before amplitude limiting; (2) generation of an amplitude limiting noise is greatly reduced, and simultaneously non-linear distortion of a linear amplifier is reduced so that system performance is effectively increased; and (3) algorithm complexity is low and an obvious improvement effect is possessed for an aspect of amplitude limiting noise reduction. The improved amplitude limiting algorithm based on compression perception is better than a common amplitude limiting algorithm, certain practicality is possessed and a certain reference value is possessed for a high-speed real-time OFDM underwater sound communication system.