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In a multicarrier system, transmit power allocation over different subchannels is an effective means of improving the performance. In this paper, the optimal transmit power allocation scheme is developed to improve bit error rate (BER) performance in a multicarrier system with diversity reception. A simple suboptimal scheme is also derived from the optimal one, and an asymptotic case referred to as the equal SNR scheme is discussed. Numerical results show that the optimal and suboptimal power allocation schemes significantly outperform the equal power allocation scheme. The effects of the modulation level, the number of receiving antennas, and the number of subchannels on the BER performance are also investigated.