Based on the advantage of phase coded signal and stepped frequency signal,a new hybrid modulation signal is introduced in this paper. It combines phase code modulation during the pulse with stepped frequency modulation between the pulses, which is named as phase-coded stepped-frequency ( PCSF ) signal. By analyzing its waveform and ambiguity function,the comparison between Stepped-Frequency ( SF) signal and PCSF signal is given,which shows that the PCSF signal is better than SF signal. Finally,the signal processing method with two stage compressed processing is presented. The simulation results show that this new hybrid modulation radar signal can get a higher stepped frequency than ordinary SF signal,realize the same equivalent bandwidth with less pulse number,and solve the conflict among the stepped frequency,the number of pulse, and transmit average power. Under the premises of a certain range resolution,this new hybrid modulation radar signal not only raises the data rate of radar system,but also reduces Doppler sensitivity with a good prospect, and the effect of one-dimensional range profile is much better than that of traditional SF signal. Therefore,this new hybrid modulation radar signal can be widely used in application. Based on the advantage of phase coded signal and stepped frequency signal, a new hybrid modulation signal is introduced in this paper. It combines phase code modulation during the pulse with stepped frequency modulation between the pulses, which is named as phase-coded stepped-frequency (PCSF) signal. By analyzing its waveform and ambiguity function, the comparison between Step-Frequency (SF) signal and PCSF signal is given, which shows that the PCSF signal is better than SF signal. Finally, the signal processing method with two stage compressed processing is presented. The simulation results show this this new hybrid modulation radar signal can get a higher stepped frequency than ordinary pulse signal, realize the same equivalent bandwidth with less pulse number, and solve the conflict among the stepped frequency, the number of pulse , and transmit average power. Under the premises of a certain range resolution, this new hybrid modulation radar signal not only raises the data rate of radar system, but also reduces Doppler sensitivity with a good prospect, and the effect of one-dimensional range profile is much better than that of traditional SF signal. Thus, this new hybrid modulation radar signal can be widely used in application.