A computationally efficient pulse shaping method for OFDM that produces mutually orthogonal transmission pulses having fast spectral decay is provided. The pulse shaping method comprises an iterative method for designing OFDM transmission pulses that satisfy prescribed time-frequency localization conditions. The iterative method may be implemented in a computationally efficient way and can be used to adapt the transmission pulses to time-varying channel conditions in real-time, thereby maximizing the bit-error performance of an OFDM system while maintaining high data rates in wireless transmission.