In this paper, CE-CPSK(Constant Envelope Continuous Phase Shift Keying) modulated DS/SS(Direct Sequence Spread Spectrum) transceiver with 908 MHz carrier frequency and 1.5 MHz PN clock rate is proposed. To overcome the effect of nun-linear power amplifier, CE-CPSK modulation method which has the constant envelope and continuous phase characteristics is proposed. To analyze the DS/SS receiver performance with respect to code tracking loop, multipath fading channel is characterized as a two-ray Rayleigh fading channel. To compensate the demerit of analog delay locked loop, digital delay locked loop is employed for code tracking loop. Simulation and experimental examination has been carried out in AWGN(Additive White Gaussian Noise) and Rayleigh fading channel environment in order to prove validity of the proposed method.