A fast equalization method is provided, which includes: storing a receive parameter and a transmit parameter, of each of a primary chip and a secondary chip, that meet a link stability requirement and that are obtained when link equalization is previously performed; and when determining that link equalization needs to be performed, configuring, as first fast equalization timeout duration, a larger value in initial fast equalization timeout duration of the primary chip and initial fast equalization timeout duration of the secondary chip, and invoking the foregoing receive and transmit parameters, so that the primary chip and the secondary chip perform a current time of link equalization based on the first fast equalization timeout duration and the foregoing transmit and receive parameters.