In this paper we discuss the VLSI implementation of the new radix-2 Decimation In Time (DIT) Fast Fourier Transform (FFT) algorithm with reduced arithmetic complexity which is based on scaling the twiddle factor. Some signal processing require high performance FFT processors and to meet these performance requirements, the processor needs to be pipelined and parallelized. An optimized ASIC design is derived from this new radix-2 algorithm with fewer multipliers and adopted a complete parallel and pipelined architecture for hardware implementation of a 64 point FFT. The implementation results show that the proposed architecture significantly reduces the hardware area by 13.74 percent and power consumption by 16 percent when compared to the standard FFT architecture. Simulation of design units is done in Xilinx ISE WebPack 13.1 and synthesized using Cadence Encounter RTL Compiler. © 2018 IEEE.