This study introduces a fundamentally new approach to suppress mutual coupling among two closely‐spaced vertical monopole elements of a multiple‐input multiple‐output antenna array. The 40 × 40 × 1.27 mm decoupling and matching element consists of a single planar ring resonator acting as a stop‐band filter along with two tuning strips printed on an ungrounded substrate surrounding a two‐element co‐planar waveguide‐fed monopoles separated by 8 mm (λ0/16) at 2.45 GHz. Measurements reveal 14.2% bandwidth centred at 2.395 GHz over which the decoupling is below 20 dB, and −10‐dB impedance bandwidth of 19.5% centred at 2.36 GHz. An improvement of 43 dB in isolation is observed at a frequency of 2.38 GHz. It is shown that the decoupled array provides a total realised gain of 1.69 dBi with excellent diversity performance as demonstrated by the low envelope correlation coefficient and improved link efficiency in highly‐correlated channel environments due to the spatially orthogonal 3D radiation patterns. The capacity offered by the decoupled array is enhanced by 50, 22, 18 and 12% at signal‐to‐noise ratios of 5, 20, 30, and 50 dB, respectively, as compared to the coupled array in an urban micro‐channel spatial model.