An interference cancellation method, characterized by comprising: Determining, by a first terminal, a channel parameter from a transmit antenna of a second terminal to a receive antenna of the first terminal; Receiving, by the first terminal, a first signal by using a first resource, wherein the first signal comprises a first interference signal and a wanted signal that is from a base station, and the first interference signal is an interference signal generated when the second terminal sends a second signal to the base station by using the first resource; and Determining, by the first terminal, the first interference signal in the first signal according to the channel parameter, and canceling the first interference signal; wherein the determining, by a first terminal, a channel parameter from a transmit antenna of a second terminal to a receive antenna of the first terminal comprises: receiving, by the first terminal, a second interference signal by using a second resource, wherein the second interference signal is an interference signal generated when the second terminal sends a third signal to the base station by using the second resource, and there is no downlink signal to be sent to the first terminal by using the second resource; receiving, by the first terminal, reconstruction information that is of the third signal and sent by the second terminal, wherein a resource used by the second terminal to send the reconstruction information of the third signal is different from the second resource; and determining, by the first terminal, the channel parameter from the transmit antenna of the second terminal to the receive antenna of the first terminal according to the second interference signal and the reconstruction information of the third signal; wherein when a power ratio of an interference signal to a wanted signal is greater than or equal to a second threshold and less than or equal to a third threshold, wherein the interference signal and the wanted signal are in a signal received by the first terminal, the reconstruction information of the third signal comprises: an unmodulated digital baseband signal and a modulation scheme that are corresponding to the third signal. Determining, by a first terminal, a channel parameter from a transmit antenna of a second terminal to a receive antenna of the first terminal; Receiving, by the first terminal, a first signal by using a first resource, wherein the first signal comprises a first interference signal and a wanted signal that is from a base station, and the first interference signal is an interference signal generated when the second terminal sends a second signal to the base station by using the first resource; and Determining, by the first terminal, the first interference signal in the first signal according to the channel parameter, and canceling the first interference signal; wherein the determining, by a first terminal, a channel parameter from a transmit antenna of a second terminal to a receive antenna of the first terminal comprises: receiving, by the first terminal, a second interference signal by using a second resource, wherein the second interference signal is an interference signal generated when the second terminal sends a third signal to the base station by using the second resource, and there is no downlink signal to be sent to the first terminal by using the second resource; receiving, by the first terminal, reconstruction information that is of the third signal and sent by the second terminal, wherein a resource used by the second terminal to send the reconstruction information of the third signal is different from the second resource; and determining, by the first terminal, the channel parameter from the transmit antenna of the second terminal to the receive antenna of the first terminal according to the second interference signal and the reconstruction information of the third signal; wherein when a power ratio of an interference signal to a wanted signal is greater than or equal to a second threshold and less than or equal to a third threshold, wherein the interference signal and the wanted signal are in a signal received by the first terminal, the reconstruction information of the third signal comprises: an unmodulated digital baseband signal and a modulation scheme that are corresponding to the third signal. receiving, by the first terminal, a second interference signal by using a second resource, wherein the second interference signal is an interference signal generated when the second terminal sends a third signal to the base station by using the second resource, and there is no downlink signal to be sent to the first terminal by using the second resource; receiving, by the first terminal, reconstruction information that is of the third signal and sent by the second terminal, wherein a resource used by the second terminal to send the reconstruction information of the third signal is different from the second resource; and determining, by the first terminal, the channel parameter from the transmit antenna of the second terminal to the receive antenna of the first terminal according to the second interference signal and the reconstruction information of the third signal; wherein when a power ratio of an interference signal to a wanted signal is greater than or equal to a second threshold and less than or equal to a third threshold, wherein the interference signal and the wanted signal are in a signal received by the first terminal, the reconstruction information of the third signal comprises: an unmodulated digital baseband signal and a modulation scheme that are corresponding to the third signal.