Fast Fourier Transform (FFT) and its inverse transform (IFFT) are commonly used tools for digital signal processing. They are widely used in various communication systems, especially the communication system based on orthogonal frequency division multiplexing (OFDM) technology. Reducing the cost of multiplier area can effectively spare the area of FFT because multipliers take up the mainly cost of the hardware. To solve the above problems, inexact multiplier for FFT, with lower area cost and low SQNR loss compared to a conventional exact FFT processor, is proposed. Comparison results show that the proposed FFT processor has good property for applications like DVB-T, LTE.