In the pseudo random coded ultrawideband radar system, realtime pulse compression of the raw echo signal is the first and key step for signal processing. A new method of fast and realtime pulse compression is proposed in this paper as the sampling rata of ultrawideband radar is high and the amount of echo data is large, but the processing speed of DSP chips and microprocessors is limited. In order to achieve fast and realtime pulse compression, this method is based on the crosscorrelation algorithm on time domain by calling the DSPs embedded in FPGA in pipeline mode to parallel computing. The simulation and experimental results show that the proposed method can well realize the pulse compression for ultrawideband radar.