A novel compact planar antenna is presented for Ultra-wideband (UWB) applications in this paper. The proposed antenna has rectangle-like slot and it is fed by coplanar waveguide. The antenna is printed on FR4 substrate and it has compact size of . Parametric study is performed on the antenna by investigating the effect of various geometrical parameters on the frequency characteristics. The antenna is fabricated and measured. It has better return loss response and stable gain over the entire UWB band. The antenna has stable radiation pattern and good impedance matching over entire ultra-wide bandwidth of 3-10.6 GHz. The results show that there is good agreement between measured and simulated results. Various features such as compactness, simple configuration and low fabrication cost make the antenna suitable for UWB and wireless local area network systems.