In this article, a compact Traveling-standing Wave Relativistic Folded Waveguide Oscillator (TSW-RFWO) is proposed, leveraging a 0.3 T guiding magnetic field to address the crucial needs for miniaturization and practicality in high-power microwave systems. The study conducts a thorough analysis of the electromagnetic characteristics of the TSW-RFWO. Its internal traveling-standing wave signal is analyzed. Utilizing the traveling-standing wave slow-wave structure (TSW-SWS), the TSW-RFWO obtains a low Qe (external quality factor) of 39. The necessity of compacting the high-power device under low magnetic guiding field is analyzed. Employing a 300 kV, 400 A circular electron beam within a 0.3 T guiding magnetic field, PIC simulations indicate a potential output power of 57 MW at 2.74 GHz, achieving a peak efficiency of 47.5%.