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This article researches the channel estimation algorithm based on multi-input multi-output & orthogonal frequency division multiplexing (MIMO-OFDM) system. It is mainly working on the research of channel estimation algorithm based on training sequence least square (LS) criterion. On the basis of introducing the LS time domain channel estimation algorithm, it brings about an improved LS time domain channel estimation algorithm and the time domain intercepting algorithm of fixed-length. This algorithm can low down the complexity of calculation at a great extent, and analyzing on effectiveness and feasibility about the improved algorithm by combining MATLAB simulation, it draws a better ideal simulation result.