A new coaxial slow-wave oscillator with low impedance was designed. Its diode is seperated from the beam-wave interaction section by the metal mesh in the anode. In order to increase its efficiency, the beam-wave interaction section adopts the double slow-wave structure. The oscillator was optimized by 2D fully electromagnetic particle-in-cell(PIC) code. The optimal model gains the averaged output power in a period of 23 GW and a power conversion efficiency of 23% in L band when the input power is 100 GW and the input current is 95.4 kA. The oscillator is compact and lightweight, requiring no external magnetic field. In addition, the temperature rising of the metal mesh in the anode was simply estimated.