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This paper presents an ultrawide-band (UWB) channel sounding scheme with a parametric channel estimation to seek accurate probing of the propagation channel. The channel sounder consists of a vector network analzer and synthetic array to measure spatial transfer functions. The measured data are then applied to a maximum-likelihood (ML)-based estimator. The concepts implemented in the ML-based parametric channel estimation are: 1) to probe frequency-dependent effects in magnitude and phase of propagation paths and 2) to incorporate with robust concept of direction finding, namely, the spherical wavefront model of incident waves. The whole frequency band was divided into subbands, and the estimation of magnitude and phase was conducted in each subband. The spherical wavefront model includes a new model parameter, curvature radii, which is not covered in the conventional plane wavefront model. Performances of the proposed parametric UWB channel estimation scheme was assessed by anechoic chamber tests. The test demonstrated that: 1) the frequency-dependent magnitude and phase were accurately detected if the path was resolved and 2) the spherical wavefront outperformed the plane wavefront to model measured data given the short-range environment. Furthermore, fundamental performance of the sounding scheme, i.e., angular and time resolutions, were also evaluated in the test.