The high Peak to Average Power Ratio (PAPR) of Orthogonal Frequency Division Multiplexing (OFDM) and MIMO-OFDM systems reduces the system efficiency. In this paper, an extension of Tone Reservation (TR) method is introduced for PAPR reduction in Space Frequency Block Coded OFDM (SFBC-OFDM) systems. The proposed algorithm is based on a time domain kernel which is added to the signal of the antenna with maximum PAPR to reduce its peak power. The time domain kernel has been designed such that the location of the reserved tones is compatible with the structure of the space frequency code. Simulation results show that the proposed method has a very close PAPR reduction performance to that of the well-known RC-PII method, but its complexity is much less than of RC-PII .