A compact microstrip power splitter based on a pair of 70.71 Ω impedance inverters implemented by means of inductively loaded slow‐wave transmission lines is designed and fabricated. As a result of the slow‐wave effect, associated to the presence of series‐connected semi‐lumped (meandered) inductors, the length of the constitutive inverters is 41% reduced. Moreover, because of periodicity (Bragg effect), such inverters exhibit a stop band functionality useful harmonic suppression. It is demonstrated that the number of unit cells of the inverters that are necessary to achieve efficient harmonic suppression simultaneously keeping unaltered the splitter response in the region of interest should be N = 2. The proposed power splitter is compact, neither vias nor defected ground structures are used in its design, and it exhibits efficient suppression up to at least the 2nd harmonic (at 5f0, where f0 is the design frequency).