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With the increasing use of nonlinear loads in power systems, the harmonic pollution becomes more and more serious. It is well known that fast Fourier transform (FFT) is a powerful tool for power signal harmonic analysis, but leakage effect, picket fence effect, and aliasing effect make FFT suffer from specific restrictions. In this paper, we proposed a new method for power signal harmonic analysis. The major components of this method are a frequency and phasor estimating algorithm, a finite-impulse-response comb filter, and a correction factor. We also combine other methods to enhance our performance, such as discrete Fourier transform and least square error (LSE) method. To verify this method, we provided the comparisons of this method with FFT.