The present invention relates to a method and system for synthesizing speech utilizing a periodic waveform decomposition and relocation coding scheme. According to the scheme, signals of voiced sound interval among original speech are decomposed into wavelets, each of which corresponds to a speech waveform for one period made by each glottal pulse. These wavelets are respectively coded and stored. The wavelets nearest to the positions where the wavelets are to be located are selected from stored wavelets and decoded. The decoded wavelets are superposed to each other such that original sound quality can be maintained and duration and pitch frequency of speech segment can be controlled arbitrarily.