A channel estimation method, comprising: determining a channel space related matrix of each channel according to first signals received by N antennas of a receiver on each channel of M channels, wherein the channel space related matrix of each channel is used to indicate space correlation between the N antennas on each channel, N is a positive integer greater than 1, and M is a positive integer; determining a channel fading factor filter matrix according to the channel space related matrices of the M channels, wherein the channel fading factor filter matrix is an N x N-dimensional matrix; and determining channel estimation of a first channel according to the channel fading factor filter matrix and channel fading factors corresponding to the N antennas when the N antennas receive first signals on the first channel, wherein the first channel is one of the M channels; wherein there is a one-to-one correspondence between the M channels and M groups of paths on which the receiver receives the first signals; and before the determining a channel space related matrix of each channel according to first signals received by N antennas of a receiver on each channel of M channels, the method further comprises: determining the M groups of paths; the method being characterized in that the determining a channel space related matrix of each channel according to first signals received by N antennas of a receiver on each channel of M channels comprises: determining, by using a formula R l = r l ⋅ r l H, a channel space related matrix corresponding to the l th group of paths in the M groups of paths, wherein R l is the channel space related matrix corresponding to the l th group of paths, r l is used to indicate first signals received by the N antennas on the l th group of paths, and r l = r l, 1 r l, 2 ⋮ r l, N, wherein r l,N is used to indicate a first signal received by the N th antenna of the N antennas on the l th group of paths, and a value of l ranges from 1 to M. determining a channel space related matrix of each channel according to first signals received by N antennas of a receiver on each channel of M channels, wherein the channel space related matrix of each channel is used to indicate space correlation between the N antennas on each channel, N is a positive integer greater than 1, and M is a positive integer; determining a channel fading factor filter matrix according to the channel space related matrices of the M channels, wherein the channel fading factor filter matrix is an N x N-dimensional matrix; and determining channel estimation of a first channel according to the channel fading factor filter matrix and channel fading factors corresponding to the N antennas when the N antennas receive first signals on the first channel, wherein the first channel is one of the M channels; wherein there is a one-to-one correspondence between the M channels and M groups of paths on which the receiver receives the first signals; and before the determining a channel space related matrix of each channel according to first signals received by N antennas of a receiver on each channel of M channels, the method further comprises: determining the M groups of paths; the method being characterized in that the determining a channel space related matrix of each channel according to first signals received by N antennas of a receiver on each channel of M channels comprises: determining, by using a formula R l = r l ⋅ r l H, a channel space related matrix corresponding to the l th group of paths in the M groups of paths, wherein R l is the channel space related matrix corresponding to the l th group of paths, r l is used to indicate first signals received by the N antennas on the l th group of paths, and r l = r l, 1 r l, 2 ⋮ r l, N, wherein r l,N is used to indicate a first signal received by the N th antenna of the N antennas on the l th group of paths, and a value of l ranges from 1 to M. determining the M groups of paths; the method being characterized in that the determining a channel space related matrix of each channel according to first signals received by N antennas of a receiver on each channel of M channels comprises: determining, by using a formula R l = r l ⋅ r l H, a channel space related matrix corresponding to the l th group of paths in the M groups of paths, wherein R l is the channel space related matrix corresponding to the l th group of paths, r l is used to indicate first signals received by the N antennas on the l th group of paths, and r l = r l, 1 r l, 2 ⋮ r l, N, wherein r l,N is used to indicate a first signal received by the N th antenna of the N antennas on the l th group of paths, and a value of l ranges from 1 to M. determining, by using a formula R l = r l ⋅ r l H, a channel space related matrix corresponding to the l th group of paths in the M groups of paths, wherein R l is the channel space related matrix corresponding to the l th group of paths, r l is used to indicate first signals received by the N antennas on the l th group of paths, and r l = r l, 1 r l, 2 ⋮ r l, N, wherein r l,N is used to indicate a first signal received by the N th antenna of the N antennas on the l th group of paths, and a value of l ranges from 1 to M.