To meet the needs of multi-way power distribution applied to high-power solid-state sources, a multi-way power distribution device based on coaxial waveguide is designed and studied. By analyzing the transmission characteristics of coaxial waveguides and by applying the theory of impedance matching, an S-band 1∶16 power divider is designed by electromagnetic simulation software. Moreover, the device is machined for testing. Experimental results show that the reflection coefficient S₁₁ of the power divider is less than -15 dB in the range of 2.28 GHz to 2.86 GHz (the relative bandwidth is 23%). In the range of 2.37 GHz to 2.57 GHz (the relative bandwidth is 8.1%), the reflection coefficient S₁₁ of the input port is less than -20 dB, with the amplitude imbalance ±0.1 dB and phase imbalance ±5° at the output ports. To sum up, the power divider meets the amplitude and phase consistency requirements at output ports and can be applied to S-band hundred-watt continuous wave power distribution.