We propose a new type of spin torque nano-oscillator structure with an exchange- biased free rotating layer. The proposed spin torque nano-oscillator consists of a fixed layer and a free rotating layer with an additional anti-ferromagnetic layer, which leads to an exchange bias in the free rotating layer. The spin dynamics of the exchange-biased free rotating layer can be described as an additional exchange field because the exchange bias manifests itself by the existance of a finite exchange bias field. The exchange bias field plays a similar role to that of a finite external field. Hence, microwave generation can be achieved without an external field in the proposed structure.