A high isolation 4‐port diplexer implemented using double‐sided parallel‐strip lines (DSPSLs) is presented in this letter. Two back‐to‐back 3‐port diplexers and a 180° phase shifter are employed to construct the proposed device. The DSPSL structure enables a compact phase shifter without incurring any extra circuit footprint. The 4‐port circuit topology suppresses the leakage between the 2 channels by signal cancellation, resulting in significantly improved channel isolation. For demonstration, a 4‐port diplexer with operating frequencies of 1.85 and 2.1 GHz is designed, fabricated and measured. The experimental results show that the 4‐port diplexer has good in‐band performance and high isolation of 50 and 51 dB. This is an improvement of over 23 dB compared with the conventional 3‐port diplexer.