The plasma cladding waveguide, which is a cylindrical dielectric core surrounded by a plasma cladding, is developed, and the guided modes and their characteristics of this waveguide are displayed through the present detailed theoretical research. The conditions of the single mode existing in the plasma cladding waveguide have been given, and the defined forbidden gap of frequency is discussed. It is found that the usage characteristics of the plasma cladding waveguide vary strongly with plasma frequency, and changing the plasma parameters can control the propagation mode. This paper focuses on exhibiting the basic characteristics and the potential applications of this new type of waveguide.