A system and method for multipath estimation and mitigation is disclosed. In some embodiments, the method includes performing a first weight estimation operation for a first number of multipath components of a received correlation, calculating a remaining error energy by subtracting a sum of estimated multipath components from the received correlation, determining whether a satisfaction criterion is met for the remaining error energy, and, in response to determining that the satisfaction criterion is not met, performing a second weight estimation operation for a second number of multipath components, the second number being greater than the first number.