Ultra-wideband (UWB) technology is a crucial facilitator for high-data-rate wireless communication due to its extensive frequency spectrum and low power consumption. Simultaneously, multiple-input multiple-output (MIMO) systems have garnered considerable attention owing to their capability to enhance channel capacity and link dependability. This article discusses the development of small, high-performance MIMO UWB antennas with mutual suppression capabilities to fully use the benefits of both technologies. Additionally, the suggested antenna features a straightforward design and dual-band-notched characteristics. The antenna structure includes two radiating elements measuring 85 × 45 mm². These elements use a rectangular patch provided by a coplanar waveguide (CPW). Double U-shaped slots are incorporated into the rectangular patch to introduce dual-band-notched properties, which help mitigate interference from WiMAX and WLAN communication systems. The antenna is fabricated on a Mylar^® polyester film substrate of 0.3 mm in thickness, with a dielectric constant of 3.2. According to the measurement results, the suggested antenna functions efficiently across the frequency spectrum of 2.29 to 20 GHz, with excellent impedance matching throughout the bandwidth. Furthermore, it provides dual-band-notched coverage at 3.08–3.8 GHz for WiMAX and 4.98–5.89 GHz for WLAN. The antenna exhibits impressive performance, including favorable radiation attributes, consistent gain, and little mutual coupling (less than −20 dB). Additionally, the envelope correlation coefficient (ECC) is extremely low (ECC < 0.01) across the working bandwidth, which indicates excellent UWB MIMO performance. This paper offers an appropriate design methodology for future flexible and compact UWB MIMO systems that can serve as interference-resilient antennas for next-generation wireless applications.