A non-oscillating Paley-Wiener function is a real entire functionf of exponential type belonging toL 2(R) and such that each derivativef (n),n=0, 1, 2,…, has only a finite number of real zeros. It is established that the class of such functions is non-empty and contains functions of arbitrarily fast decay onR allowed by the convergence of the logarithmic integral. It is shown that the Fourier transform of a non-oscillating Paley-Wiener function must be infinitely differentiable outside the origin. We also give close to best possible asymptotic (asn→∞) estimates of the number of real zeros of then-th derivative of a functionf of the class and the size of the smallest interval containing these zeros.