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In this paper, we propose the new channel estimation algorithm in frequency domain for orthogonal frequency division multiplexing (OFDM) system in fast fading channels. In this algorithm first we estimate channel response at pilot subcarriers then interpolate channel response at data subcarriers by Gaussian Radial basis function as an efficient nonlinear interpolator. At next step by filtering and processing on the estimated channel taps and using iterative decision feedback we improve accuracy of our channel estimation algorithm. We evaluate and compare performance of our proposed algorithm to similar algorithms by simulation.