A method of reducing the peak-to-mean ratio of a multi-carrier signal includes the steps of: generating a residual signal from the multicarrier signal, the residual signal representing the difference between the multicarrier signal and a hard-clipped multicarrier signal. The method also includes the steps of applying a least squares function to the residual signal for each carrier of the multi-carrier signal, thereby generating a minimized residual signal for each carrier and combining the minimized residual signals and the multicarrier signal.