The invention discloses a receiving end IQ imbalance estimation and compensation method and device for an SC-FDE system, and the stream analysis of modulated data is performed at a transmitting end. CP is added to a data block, and the data block is received by a receiving end through a wireless channel and noise interference. The received signal introduces IQ imbalance because of the hardware damage of a radio frequency end. The method provided by the invention comprises the steps: carrying out the FFT of time domain data to a frequency domain after the CP of data is removed at the receivingend; estimating the channel information in advance through pilot frequency data, and obtaining an IQ imbalance parameter estimated value; carrying out the mirroring of the received signal afterwards,carrying out the merging, and estimating the frequency domain data of an original signal through LS; and finally restoring the original data through IFFT and demodulation. According to the method provided by the invention, the pilot frequency data is used in the frequency domain for the separated estimation of the IQ imbalance parameter and channel in advance, and then a simple LS method is used for compensating for the IQ imbalance and channel interference. Moreover, the method can be suitable for SISO and MIMO systems.