This paper presents an efficacy of an FD SOI MOSFET structure in suppressing short channel effects is investigated through 2-Dimenional simulation on ATLAS Silvaco. The electrical comparison between Bulk MOSFET, FD-SOI MOSFET and FD-SOI MOSFET using high-k gate dielectric at 45nm technology has been carried out. The structures have been designed and study of threshold voltage, sub threshold slope, drain current (Ion), leakage current (Ioff), Ion/Ioff, transconductance has been done. The features offered by the new device structure are found to be better than the conventional bulk MOSFET. Aluminum Oxide (Al2O3) has been compared to SiO2 as dielectric material. As the dielectric constant of the materials increased, there is a reduction in the leakage current. It provides higher transconductance and better subthreshold slope, thus resulting in improvement of the device. A comparative analysis has been carried out among bulk MOSFET and SOI MOSFET using aluminum oxide, silicon oxide and silicon nitride as gate dielectric materials. Aluminum Oxide also provides higher drain current as compared to other dielectric materials presented in the paper. Thus, Aluminum Oxide is a good candidate as a dielectric for the future devices as compared to traditional oxides. The proposed device can be useful for low power applications.