The invention discloses a carrier frequency deviation compensation method which is applied to a communication system. The method includes the following steps of firstly, conducting mixing, filtering and interpolation on an input signal according to a first mixing parameter, a first filtering parameter and a first interpolation parameter respectively, and generating a processing result; secondly, calculating a carrier frequency deviation estimation value of the input signal according to the processing result; thirdly, adjusting the mixing parameter according to the carrier frequency deviation estimation value; fourthly, conducting mixing, filtering and interpolation on the input signal according to a mixing parameter obtained after adjustment, a second filtering parameter and a second interpolation parameter respectively, wherein the first interpolation parameter is related to a cut-off frequency corresponding to the first filtering parameter.