Cognitive radar could adapt the spectrum of waveforms in response to information regarding the changing environment, so as to avoid narrowband interference or electronic jamming. Besides stopband constraints, low range sidelobes and unimodular property are also desired. In this paper, we propose a Spectral Approximation Relaxed Alternating Projection (SARAP) method, to synthesize unimodular waveform with low range sidelobes and spectral power suppressed. This novel method, based on phase retrieval and relaxed alternating projection, could convert the correlation optimization into the spectrum approximation via the Fast Fourier Transform (FFT). Moreover, by virtue of the relaxation factor and accelerated factor, SARAP can exploit local area and more likely converge to the global solution. Numerical trials have demonstrated that SARAP could achieve excellent performance and computational efficiency which will facilitate the real-time design.