Filter bank multi carrier (FBMC) is a modulation technique with enhanced spectral properties and also finds an alternate solution for cyclic prefix based OFDM system in coordination with offset quadrature amplitude modulation (OQAM). Peak to average power ratio (PAPR) is still a defined problem in this system; in this paper a modified selective mapping (SLM) approach is proposed for the reduction of PAPR and selection of optimal candidate signal. The proposed approach experimental results reveal that this approach is performing better than tradition FBMC-SLM approaches under different constraints.