An apparatus and a method are provided for reducing a peak-to-average power ratio of a forward link signal in a code division multiple access (CDMA) communication system. The apparatus and method include a power control object determination unit for determining a power control object by detecting a peak signal having a highest power for a predetermined period of time from among input signals including a plurality of sub-peak signals, a power correction signal generation unit for outputting at least one correction waveform in order to correct an input signal determined to be the power control object, and a power correction unit for outputting an input signal to which at least one correction waveform is applied.