The invention discloses an IQ signal calibration compensation method. The method comprises the steps of inputting calibration testing signals into an IQ signal calibration predistortion module; outputting compensated testing signals through compensation computing; inputting the compensated testing signals into an IQ signal calibration parameter estimation module, computing residual volume estimation of imbalance parameters, and outputting the residual volume estimation to an IQ signal calibration parameter iteration module; computing estimated values of iterated imbalance parameters by the IQsignal calibration parameter iteration module; updating the iterated imbalance parameters for compensation, thereby finishing single-time closed loop calibration; and terminating iteration if iteration times reaches the maximum iteration times, thereby finishing compensation. According to the method, closed loop iteration is carried out, complex computing such as extraction of a root and solutionof an inverse trigonometric function is avoided through utilization of an iteration approximation method, computing complexity of blind calibration is simplified, logic complexity of a digital circuitis reduced, under the same circuit area, computing count of the testing signals can be increased, compensation precision is improved, and moreover, through utilization of a closed loop system, stability under an interference condition is improved.