A method and a device which are for signal processing and are applied to a microwave communication system are disclosed. The method includes: performing equalization processing on each input signal by using an equalizer so as to obtain an equalized signal corresponding to the each input signal; performing phase estimation on phase noise in the equalized signal to obtain an estimated phase of the phase noise; performing phase rotation on the equalized signal to offset the estimated phase of the phase noise, so as to obtain a phase rotation signal; suppressing residual phase noise in the phase rotation signal by using a phase-locked loop so as to output an error signal and a received signal; and performing an iterative update on a filter coefficient of the equalizer by using the error signal.