Example channel measurement methods and communications apparatus are described. One example method includes receiving a precoded reference signal by a terminal device, where the precoded reference signal is obtained by precoding a reference signal based on K angle vectors and L delay vectors. First indication information is generated and sent, where the first indication information is used to indicate P weighting coefficients corresponding to P angle-delay pairs. The P weighting coefficients are determined by using the precoded reference signal. The P angle-delay pairs and the P weighting coefficients corresponding to the P angle-delay pairs are used to determine a precoding matrix. Each angle-delay pair includes one of the K angle vectors and one of the L delay vectors. The K angle vectors and the L delay vectors are determined based on uplink channel measurement.