In this study, an omnidirectional and circularly polarized transceiver antenna, which can be used in simultaneous operations over transmit (TX) and receive (RX) channels for telemetry, tracking, and command (TTC) applications on the space segment of satellite communication, is proposed. The radiation and feed parts of the antenna consist of waveguide structures for high power necessity in transmit (telemetry) section. The radiation part includes two different sections of rotationally symmetric slotted arrays on circular waveguide, and radially outward metallic disks to improve omnidirectionality and circular polarization. The feed part contains a dual‐band mod converter from rectangular TE10 mode to circular TM01 mode for symmetric field excitation over slots where the input of the converter is the standard rectangular waveguide. The design, simulation, and measurement results of the antenna are shown over a 3D printed prototype at Ku‐band with center frequencies of 12 GHz and 14.25 GHz for TX and RX, respectively. With thin slots in telemetry section and thick slots in telecommand section, measured bandwidths for TX and RX frequencies are obtained approximately as 200 and 450 MHz, respectively. While TX band with maximum 3 dB gain variation over azimuth, maximum 3 dB axial ratio and minimum −3 dBi gain over 70° elevation beamwidth has relatively better performances at the expense of narrow bandwidth, RX band has maximum 3.5 dB gain variation over azimuth, maximum 4 dB axial ratio and minimum −6 dBi gain over 55° elevation beamwidth at the expense of wide bandwidth.