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This paper proposes a new signal peak power reduction technique, Peak Reduction based on Control Signal Insertion (PRCSI), for broadband mobile communications based on multi-channel signaling schemes. PRCSI reduces the peak power with a peak control signal that is generated symboi-by-symbol; no signal band expansion is incurred because the peak control signal is inserted into the transmission signal band. PRCSI can achieve 4dB peak power reduction for 8-carrier signaling, while the E_b/N_0 value required to achieve 10^3 average BER is 1dB larger with PRCSI than without it. This BER performance degradation can effectively be compensated by the proper use of Trellis coding. The proposed technique is applied to OFDM transmission systems with large carrier number. The proposed technique can achieve 3-dB peak power ratio for 128-carrier OFDM signals with less than 1-dB performance degradation at the BER of lO^3.