The performance of the multiprocessor system and time-sharing system rely upon CPU scheduling algorithm. Some of the well known efficient CPU scheduling algorithms are Round Robin scheduling (RR), Shortest job first(SJF), Preemptive version of SJF(SRTF), First Come First Serve (FCFS) etc. As of now, the Round Robin scheduling algorithm is considered as the efficient process scheduling algorithm among all the existing CPU scheduling algorithms. However, in RR the shortest one have to wait for a longer time and in SRTF longer process behaves as a suspended process as short tasks keep on executing. This paper proposes a new scheduling process algorithm ESRR (Efficient Shortest Remaining Time Round Robin) that consolidate two of the preemptive version of existing scheduling algorithms namely RR and SRTF. ESRR reduces total waiting time and turn around time in compare to RR and reduces the waiting time of the shorter process and it also provides a longer process to execute faster than SRTF. © 2020 IEEE.