The invention relates to an improved channel estimation method which comprises the following steps: 1) inserting a training sequence before a binary sequence for PSK (phase shift keying) modulation to acquire a frequency domain symbol sequence; performing IFFT (inverse fast fourier transform) or IDFT (inverse discrete fourier transform) on the frequency domain symbol sequence to acquire a time domain sequence, and sending the time domain sequence to a receiving terminal; 2) after receiving the time domain sequence, acquiring the training sequence frequency domain phase difference by the receiving terminal according to the received time domain training sequence; performing FFT (fourier transform algorithm) or DFT (discrete fourier transformation) by the receiving terminal to acquire the frequency domain sequence after receiving the time domain sequence; 3) according to the frequency domain phase difference of the training sequence, calculating the amplitude and phase of the frequency domain sequence to acquire an amplitude sequence and a phase sequence, and performing phase correction on the phase sequence to acquire the corrected phase sequence; 4) performing phase judgment and detection on the phase sequence to acquire a final phase sequence. According to the invention, the training sequence is utilized to perform phase judgment and detection on the frequency domain sequence to correct responsive phase of a channel, only displacement, comparison and addition calculations are required, and the method is simple to implement and low in complexity.