Abstract-In this paper we describe the operation of a novel power diode- 'Regenerative Diode' which has a regenerative blocking capability. The regenerative diode has comparatively better I-V characteristics in the forward direction when compared to that of the P-N diode, Schottky diode and Junction Barrier Controlled Schottky (JBS) rectifier. Additionally it also has dominant blocking characteristics when compared to that of the Schottky diode and JBS rectifier in the reverse direction. Regenerative diode is a diode with an operation that is completely different from the "normal" diodes. Regenerative diode is a normally ON device (i.e. zero threshold voltage). We present the simulation results with the I-V characteristics of the regenerative diode and also compare them with the I-V characteristics ofthe JBS rectifier at iso-thermal conditions.