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The estimation of carrier frequency offset (CFO) is an important topic in broadband communication systems. It is known that the accuracy of CFO estimation will be affected by the existence of the in-phase and quadrature-phase (I/Q) imbalance. This paper proposes a novel algorithm for CFO estimation in the presence of I/Q imbalance. The estimation problem is solved by using a simple matrix approach. It exploits only the periodicity of the training sequence, and it does not need the information about the channel impulse response and the exact values of training sequence. Simulation results show that our method is robust to both the noise and the various values of CFO, and it compares favorably with the existing methods.