Based on Rife algorithm，MRife algorithm，and FFT coefficient interpolation iterative frequency estimation algorithm，a new algorithm was proposed，which replaced the iteration with the parallel computing. Then，the new algorithm was implemented in FPGA. The simulation results indicated that the Root Mean Square Error(RMSE) of new algorithm could approach Cramer-Rao Bound(CRB) when the input Signal Noise Ratio(SNR) exceeded –14 dB.