The paper investigates the performance of a cyclic interleaved frequency division multiple access (CIFDMA) system proposed in our earlier works. In our present study, the carrier frequency offset (CFO) and the peak‐to‐average power ratio (PAPR) analysis are done for the proposed CIFDMA, supporting single and multiple data stream transmissions. The proposed system is analyzed without employing any compensation technique needed to alleviate the effect of CFO and PAPR. The CIFDMA delivers superior performance over the conventional IFDMA system under low and moderate CFOs. Besides, the bit error ratio (BER) versus signal‐to‐noise ratio (SNR) performance comparisons for constant and random CFOs reveal the dominance of the proposed system over the conventional system for both single and multiple data stream transmissions. The PAPR performance of the proposed system is superior to the orthogonal frequency division multiple access (OFDMA) system. However, the PAPR of the proposed system escalates by an acceptable margin to that of the conventional system, and the deviation in the PAPR value falls within the acceptable range. The simulation results conclude that the proposed CIFDMA system will better replace the conventional IFDMA system for next‐generation communications.