The effectiveness of Dual Tree Complex Wavelet Packet Modulation (DT-CWPM) with DQPSK modulation is investigated for communication over flat and frequency selective Rayleigh fading channel. The simulation results show that the performance of the proposed DT-CWPM system is better than that of Orthogonal Frequency Division Multiplexing (OFDM) and other types of Multicarrier Modulation (Slantlet based OFDM and FRAT-OFDM)for the same environment. The comparison of complementary cumulative distribution function (CCDF) of the peak to average power ratio ( PAPR) between different types of multicarrier modulation is also achieved.