In this article, a compact dual-port single element MIMO antenna is presented for millimeter wave (mmWave) 5G wireless applications. The presented antenna design consists of an annular ring slot that is fed by a Substrate Integrated Waveguide (SIW) at the two opposite sides of the substrate. The antenna resonates at 28 GHz and its 10 dB impedance bandwidth is 400 MHz. The isolation between the ports is reduced by introducing additional annular slot that acts as a cavity which results in an isolation better than 20 dB at 28 GHz. The measured gain of the both ports are 6.9 dBi which is the highest gain per unit element at 28 GHz in the literature. The measured diversity gain and envelope correlation coefficient are 9.98 dB and 0.065, respectively, at the band of interest. The measured and simulated results are in good agreement.INDEX TERMS millimeter wave, MIMO, slot antennas, substrate integrated waveguide (SIW).