An interference cancellation method, wherein the method comprises: sending (S401), by a first device, a first signal to a second device, wherein the first signal comprises a first transmit signal and a first pilot signal, the first transmit signal generates a first self-interference signal to a receive end of the first device, the first transmit signal and the first pilot signal use different frequency bands, and the first device and the second device are connected via an intermediate frequency cable and together form a microwave transmission system; obtaining (S402), by the first device, a second signal, wherein the second signal comprises the first self-interference signal, a second pilot signal, and a second receive signal from the second device, the second pilot signal is a pilot signal obtained after the first pilot signal undergoes a channel jitter, frequency bands used by the first transmit signal and the second receive signal completely or partially overlap, and the second receive signal and the second pilot signal use different frequency bands; extracting (S403), by the first device, jitter information of the first self-interference signal based on the first pilot signal and the second pilot signal; reconstructing (S404), by the first device, a self-interference signal based on the first transmit signal and the jitter information of the first self-interference signal, to obtain a cancellation signal of the first self-interference signal; and canceling (S405), by the first device, the first self-interference signal from the second receive signal based on the cancellation signal of the first self-interference signal. sending (S401), by a first device, a first signal to a second device, wherein the first signal comprises a first transmit signal and a first pilot signal, the first transmit signal generates a first self-interference signal to a receive end of the first device, the first transmit signal and the first pilot signal use different frequency bands, and the first device and the second device are connected via an intermediate frequency cable and together form a microwave transmission system; obtaining (S402), by the first device, a second signal, wherein the second signal comprises the first self-interference signal, a second pilot signal, and a second receive signal from the second device, the second pilot signal is a pilot signal obtained after the first pilot signal undergoes a channel jitter, frequency bands used by the first transmit signal and the second receive signal completely or partially overlap, and the second receive signal and the second pilot signal use different frequency bands; extracting (S403), by the first device, jitter information of the first self-interference signal based on the first pilot signal and the second pilot signal; reconstructing (S404), by the first device, a self-interference signal based on the first transmit signal and the jitter information of the first self-interference signal, to obtain a cancellation signal of the first self-interference signal; and canceling (S405), by the first device, the first self-interference signal from the second receive signal based on the cancellation signal of the first self-interference signal. <EOS>