Aspects of a method and system for transmit power control techniques to reduce mutual interference between coexistent wireless networks are provided. A coexistence terminal comprising a WLAN radio and a Bluetooth radio operating as a master device may transmit signals to one or more remote controllers comprising a slave Bluetooth radio to increase transmission power when the isolation between the coexistence terminal's WLAN and Bluetooth radios is below a threshold. Link manager protocol (LMP) signals may be utilized for changing the transmission power. When the isolation increases above the threshold, signals may be generated to reduce the remote controllers' transmission power. In some instances, in addition to increasing the transmission power of remote controllers, the transmission power of the Bluetooth radio or the WLAN radio may be reduced. The reduced Bluetooth or WLAN radio transmission power may be increased when the radio isolation in the coexistence terminal increases.