A channel calibration method, comprising: obtaining at least two channel sets, wherein the at least two channel sets are obtained by grouping a plurality of to-be-calibrated channels, each of the at least two channel sets comprises a reference channel, wherein the reference channel in each of the at least two channel sets is a calibration channel, and at least one to-be-calibrated channel, wherein the at least one to-be-calibrated channel in each of the at least two channel sets does not include the reference channel, and a first channel set and a second channel set that are in the at least two channel sets have an intersection set, wherein the intersection set comprises a common channel; determining, based on a calibration signal transmitted between the reference channel in each of the channel sets and each to-be-calibrated channel in each of the channel sets, a compensation value of each to-be-calibrated channel in each of the channel sets, wherein the compensation value of each to-be-calibrated channel is used to compensate a frequency response of each corresponding to-be-calibrated channel in each of the channel sets; determining, based on the compensation value of the common channel in the first channel set and the compensation value of the common channel in the second channel set, an inter-set compensation value between the first channel set and the second channel set, wherein the inter-set compensation value is used to compensate frequency responses of all channels in the first channel set or the second channel set; and calibrating the plurality of channels based on the inter-set compensation value and the compensation value of each to-be-calibrated channel in each of the channel sets. obtaining at least two channel sets, wherein the at least two channel sets are obtained by grouping a plurality of to-be-calibrated channels, each of the at least two channel sets comprises a reference channel, wherein the reference channel in each of the at least two channel sets is a calibration channel, and at least one to-be-calibrated channel, wherein the at least one to-be-calibrated channel in each of the at least two channel sets does not include the reference channel, and a first channel set and a second channel set that are in the at least two channel sets have an intersection set, wherein the intersection set comprises a common channel; determining, based on a calibration signal transmitted between the reference channel in each of the channel sets and each to-be-calibrated channel in each of the channel sets, a compensation value of each to-be-calibrated channel in each of the channel sets, wherein the compensation value of each to-be-calibrated channel is used to compensate a frequency response of each corresponding to-be-calibrated channel in each of the channel sets; determining, based on the compensation value of the common channel in the first channel set and the compensation value of the common channel in the second channel set, an inter-set compensation value between the first channel set and the second channel set, wherein the inter-set compensation value is used to compensate frequency responses of all channels in the first channel set or the second channel set; and calibrating the plurality of channels based on the inter-set compensation value and the compensation value of each to-be-calibrated channel in each of the channel sets.