A peak cancellation-crest factor reduction (PC-CFR) device includes a clipping unit configured to output a clipping error signal by clipping amplitude values of a first baseband complex signal based on a predetermined threshold value; a peak value determination unit configured to receive the clipping error signal, and determine a first amplitude value as a peak value when the first amplitude value is greater than a second amplitude value input before the first amplitude value and a third amplitude value input after the first amplitude value among amplitude values of the clipping error signal; a cancellation pulse generator (CPG) allocation unit configured to allocate the peak value to a CPG; and a subtractor configured to subtract a cancellation pulse generated from the CPG from the first baseband complex signal and output a second baseband complex signal with a reduced peak-to-average power ratio (PAPR).