An efficient space-time-frequency (STF) coding strategy for multi-input multi-output orthogonal frequency division multiplexing (MEMO-OFDM) systems is presented for high bit rate data transmission over frequency selective fading channels. The proposed scheme is a new approach to space-time-frequency coded OFDM (COFDM) that combines OFDM with space-time coding, linear precoding and adaptive power allocation to provide higher quality of transmission in terms of the bit error rate performance and power efficiency. In addition to exploiting the maximum diversity gain in frequency, time and space, the proposed scheme enjoys high coding advantages and low-complexity decoding. The significant performance improvement of our design is confirmed by corroborating numerical simulations.