To improve the performance of identity authentication protocol using public key cryptography effectively, a new secure and effective mutual authentication key agreement protocol combined with one-way hash function is proposed. The communication cost is reduced clearly in this protocol, because the two parties of authentication needs only message exchange twice. The computation complexity of the agreement is equivalent as classical protocol using public key cryptography. The security of this protocol is proved by mathematical derivation and the formal deduction which aims at all- known attacks. In this protocol, a secure one-time symmetric key is generated after successful authentication.