A method of channel estimation of a mobile communication system based on a time division pilot field is disclosed. The method uses a transmitting end that transmits a time division pilot sequence having a cyclic prefix and a receiving end that transforms the time division pilot sequence into frequency domain using a fast Fourier transform module. Channel estimation is performed to obtain a channel frequency response estimation result. The receiving end transforms the channel frequency response estimation result back into time domain and obtains a channel impulse response estimation result.