Integration of radar and communication systems based on OFDM signals results in large Peak-to-Average Power Ratio (PAPR). Limited by the code rate, algorithm that use the Golay sequence code to restrain PAPR can only be applied under the condition of a few subcarriers. This study proposes an algorithm to restrain the PAPR of systems with a large number of subcarriers. The algorithm combines the group parallel code with the optimization of weight coefficients. First, bit streams are divided into several groups of parallel bits. Next, every group proceeds with Golay sequence coding, data symbol modulating and inverse Fourier transform. Finally, the parallel result is combined with an OFDM symbol. Before the parallel data are combined, several weight coefficients for every group are introduced; thus, the system has several candidate symbols for transmitting. Then the symbol with minimum PAPR is then selected as the transmitting signal, and the PAPR of the whole system is reduced. PAPR performance, Bit Error Radio (BER) and wideband ambiguity function of three block methods with different coding rate are also simulated. The simulations show that the PAPR of the system decreases and the BER performance improves significantly. The signal exhibits a thumbtack ambiguity function, which suggests good resolution and accuracy for distance and velocity measurements.