As the World Wide Web carries on to grow up rapidly in size and popularity, web traffic and network bottlenecks are more important issues in the networked world. The continued enhancement in demand for items on the World Wide Web causes severe overloading in many sites, network congestion, delay in perceived latency and network bottleneck. Many users have no patience in waiting more than a few seconds for downloading a web page, that’s why Web traffic reduction system is very necessary in today World Wide Web for accessing the websites efficiently with the facility of existing networks. Web caching is an effective method to improve the performance of the World Wide Web but in today’s World Wide Web caching method alone is not enough because of World Wide Web has grown quickly from a simple information-sharing mechanism to a rich collection of dynamic objects and multimedia data. The web prefetching is used to improve the performance of the proxy server. Prefetching predict web object that is expected to be requested in the near future and store them in advance, thus the response time of the user request is reduced. To improve the performance of the proxy server, this paper proposed a new framework which combines the caching system and prefetching technique and also optimize the prefetching with the help of probability. In this paper, we use the dataset for the experiment which is collected from ircache.net proxy server and give the result with the comparison of other technique of prefetching.