A solid rocket propellant based on glycidyl azide polymer (GAP) binder plasticized with nitrate esters and oxidized with a mixture of ammonium nitrate (AN) and triaminoguanidine nitrate (TAGN) was formulated and characterized. Non-lead ballistic modifiers were also included in order to obtain a propellant with non-acidic and non-toxic exhaust. This propellant was found to exhibit a burning rate approximately twice that of standard GAP/ AN propellants. The exponent of the propellant is high compared to commonly used composite propellants but is still in the useable range at pressures below 13.8 MPa. This propellant may present a good compromise for applications requiring intermediate burn rate and impulse combined with low-smoke and non-toxic exhaust. This paper presents data concerning the characterization of the propellant with the exception of stability studies, which are presented in a companion paper.