A dual‐band (DB) Wilkinson power divider with multiple design approach is proposed in this article, which consists of two‐section transmission lines (TLs) with arbitrary length ratio, one parallel LC circuit, and one resistor. Compared with the former works with equal physical lengths, the total physical size of the two‐section TLs can be decreased effectively. For a given DB frequency ratio, the maximum size reduction can be newly summarized as (n‐1)/(2n), where n indicates the length ratio of two‐section TLs. From the close‐formed design equations, multiple solutions of circuit parameters are newly summarized for DB operation, thus circuit design could be much more flexible and more efficient. Furthermore, in order to compact the proposed circuit size, compensation technology for two coupled‐line sections is also considered in circuit fabrication. Finally, design charts and an experimental circuit show good agreement with the theoretical simulation. Compared with the former work under the same design conditions: f2/f1 = 3.2, f1 = 1 GHz and f2 = 3.2 GHz, the proposed work provides compact circuit size and the size reduction is 25% with n = 2, m = 1.